Muthoot Finance Limited’s board has approved a significant update to its Global Medium Term Note (GMTN) Programme, increasing the total amount to US$ 2 billion. This marks a key step in the company’s ongoing strategy to strengthen its global funding capabilities. The update to the GMTN Programme includes the approval of the Offering Circular and other essential Transaction Documents related to the program.
The GMTN Programme will allow Muthoot Finance to issue notes in multiple tranches, raising funds from international markets, providing it with flexibility to meet its financing needs over time. The notes issued under this program will be listed on NSE IFSC Limited at the International Financial Services Centre (IFSC) in Gujarat’s GIFT City, further expanding Muthoot Finance’s presence in the global capital markets.
The decision was finalized in a board meeting held on October 15, 2024, which commenced at 6:05 AM IST and concluded at 6:20 AM IST. The approval underscores Muthoot Finance’s efforts to access diverse funding sources to support its business operations and growth strategy.
The company continues to build on its legacy of providing financial services across India, with this initiative aimed at securing additional capital to fuel expansion and address market demand. The updated GMTN Programme is expected to offer greater flexibility in raising funds from international investors and provide a platform for the company to engage in structured global transactions.
