Muthoot Finance taps bond market with $600m offering

Muthoot Finance Limited announced a Bloomberg update regarding its $4 billion Global Medium Term Note Programme, specifically a tap of its $600 million 6.375% Senior Secured Notes due March 2, 2030. The offering is open to "qualified institutional buyers" in reliance on Rule 144A under the U.S. Securities Act of 1933 and to non-U.S. persons in offshore transactions under Regulation S.

The expected settlement date for this offering is October 14, 2025 (T+5), with the bonds immediately fungible on settlement date. The notes are rated Ba1 (Stable) by Moody's and BB+ (Stable) by S&P and Fitch. The proceeds will be used for onward lending and other activities in accordance with RBI approvals and ECB Guidelines.

The bonds carry a fixed coupon of 6.375%, paid semi-annually, and will be listed on NSE IX. Deutsche Bank (B&D) and Standard Chartered Bank are serving as joint global coordinators and joint bookrunners for the transaction, which is being conducted during Asia hours.