MUMBAI, Jan 12 (Reuters) - India's Satin Creditcare Network plans to raise 250 million rupees ($3.1 million) through the sale of bonds maturing in four years, two merchant bankers said on Thursday.
The company will pay an annual coupon of 12.30% on this issue and has invited commitment bids from bankers and investors on Friday, they said.
The notes are rated BBB+ by CARE Ratings and the issue will close for subscription next week.
In December, the company raised 650 million rupees by selling five-year bonds at an annual coupon of 12.15%. ($1 = 81.6200 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)