Muthoot Finance has successfully issued and settled USD 600 million in Senior Secured Notes due in 2030, under its USD 4 billion Global Medium Term Note Programme. These notes, bearing an interest rate of 5.75%, will be listed on the NSE IFSC Limited. Proceeds will be used for onward lending and other permitted activities as per regulatory guidelines.
USD 600 Million Notes Issuance
Muthoot Finance has announced the issuance and settlement of USD 600 million worth of Senior Secured Notes with a 5.75% interest rate. These notes, maturing in 2030, are part of the company’s USD 4 billion Global Medium Term Note (GMTN) Programme.
Key Terms and Details
The Finance Committee of the Board of Directors approved the issuance, settlement, and allotment on February 4, 2026. The notes are issued under Regulation S of the U.S. Securities Act, 1933, and comply with applicable Indian regulations.
Listing and Compliance
The Senior Secured Notes are officially listed on the NSE IFSC Limited. This issuance adheres to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Amortization Schedule
The principal will be repaid through five amortizations:
- 1st amortization payment: August 04, 2029
- 2nd amortization payment: November 04, 2029
- 3rd amortization payment: February 04, 2030
- 4th amortization payment: May 04, 2030
- 5th and Balance principal payment: August 04, 2030
Coupon and Interest
The notes carry a coupon rate of 5.75%. Interest payments are scheduled semi-annually on February 4th and August 4th, commencing on August 4th, 2026.
Use of Proceeds
The net proceeds from the issuance will be allocated by Muthoot Finance for onward lending and other permitted activities, in line with regulatory guidelines and approvals from the RBI.
Security
The notes are secured by a first-ranking pari passu charge over current assets, book debts, loans, receivables including gold loan receivables. Collateral excludes specifically designated assets.
Source: BSE
