Muthoot Finance has raised $650 million through US dollar-denominated bonds, with global investors showing firm demand for the debt issued by the domestic gold financing heavyweight.
The non-banking financial company raised the funds through bonds maturing in three years and nine months at a coupon rate – or rate of interest – of 7.125%. The funds will be used for onward lending and other activities that are allowed under the Reserve Bank of India’s external commercial borrowing guidelines.
“The overwhelmingly positive investor response has been highly encouraging and reaffirms investors’ confidence in our robust business model and financial stability. Muthoot Finance remains dedicated to serving our customers and contributing to India’s financial landscape,” George Alexander Muthoot, Managing Director of Muthoot Finance Ltd, said.
The order book for the issuance peaked at $1.8 billion with more than 170 international
