Satin Creditcare accepts bids for 5-year bonds - traders

India's Satin Creditcare Network SATIN has accepted bids worth 650 million rupees ($7.91 million) for bonds maturing in five years, two merchant bankers said on Friday.

The company will pay an annual coupon of 12.15% on this issue, and had invited commitment bids from bankers and investors earlier in the day, they said.

The notes are rated BBB+ by CARE Ratings and the issue will close for subscription next week.

The issue has a put/call option at the end of three years.

($1 = 82.1825 Indian rupees)