Muthoot Finance Limited has approved the pricing of USD 400 million 6.375% Fixed Rate Notes due in 2029. The proceeds from this issue will be used for onward lending activities, as permitted by the Foreign Exchange Management and External Commercial Borrowings guidelines.
The key details of the note issuance are as follows:
- Issue Price: 99.996%
- Coupon Rate: 6.375%
- Tenure: 5 years, with final maturity on April 23, 2029
- Listing: The notes are proposed to be listed on NSE IFSC Limited
- Settlement Date: October 23, 2024
The funds raised will be directed toward expanding Muthoot Finance’s lending capabilities, further supporting the company’s growth. This issuance aligns with the company’s ongoing strategy to leverage cost-effective external financing sources.
TOPICS:
Muthoot Finance