INDIA: Selathaar Ventures has structured and closed a INR50 million (US$533,191) Shariah compliant fundraise for a solar power company. The unlisted dematerialized securities, which were fully subscribed, carry a three-year tenure and an expected yield of approximately 12%, with monthly distributions and a bullet redemption at maturity. The transaction is backed by physical assets and escrowed cash flows and benefits from a corporate guarantee from a larger group company and has been assigned a ‘BB (Stable)’ rating by credit rating agency, CRISIL.
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