Gold Rush in Bonds: Muthoot Finance Eyes 30 Billion in Dual-Tenor Issue

India's biggest gold finance firm, Muthoot Finance, said it plans to raise *30 billion through a two-part bond issue. The bonds will carry tenors of three years and three years plus 49 days, both yielding an annual coupon rate of 8.52%. Rated AA+ by Crisil, the issue reflects high investor confidenc...

India's biggest gold finance firm, Muthoot Finance, said it plans to raise *30 billion through a two-part bond issue. The bonds will carry tenors of three years and three years plus 49 days, both yielding an annual coupon rate of 8.52%. Rated AA+ by Crisil, the issue reflects high investor confidence in the company's financial strength. Bidding for the issue of these bonds will be done on April 4, 2025, as Muthoot Finance wishes to take advantage of prevailing positive market conditions. This comes as part of the company's approach to diversifying its source of funds without deviating from its leadership role in the gold loan business.With this issuance, Muthoot Finance further consolidates its position in the non-banking financial industry by capitalizing on its strong credit profile and stable growth trend. Investors and market observers are eagerly waiting for the success of this ambitious fund-raising exercise. Source: Reuters