Monday , October 18 2021

Muthoot Finance raises $450 million from international bond markets

Muthoot Finance has successfully priced a $450 million Fixed Rate Senior Secured issuance for a 3 year tenor at 6.125%. The company’s bond transaction marks the first international bond by a NBFC to debut in 144A / Reg S market, allowing it to tap the US investor base in addition to Asia and Europe.

The proceeds will be used for permitted purposes including onward lending in accordance with RBI’s ECB Guidelines and other applicable laws.

Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.

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