The Financial Resources and Management Committee ("Committee") of the Board of Directors of Manappuram Finance Limited ("Company") at its meeting held on January 06, 2020 has approved the issuance of fixed rate senior unsecured notes (the "Notes") aggregating to US $ 300 Millions (the "Issue") and has also approved the pricing, tenure and other terms of the Notes.
The rating for US Dollars senior secured fixed rate notes is S&P - 'BB-' and Fitch Ratings - 'BB-'.
The coupon or interest rate offered is 5.90% p.a.
The use of proceeds of the Notes will be for onward lending and other activities permitted in accordance with the approvals granted by the RBI in relation and in accordance with the external commercial borrowings guidelines and other applicable laws.
The notes will be listed at Singapore Exchange Securities Trading Limited ("SGX-ST").
The Tenure of the instrument is 3 Years and Maturity Date is 13th January 2023.
Shares of MANAPPURAM FINANCE LTD. was last trading in BSE at Rs.172 as compared to the previous close of Rs. 176.95. The total number of shares traded during the day was 160934 in over 1119 trades.
The stock hit an intraday high of Rs. 177.8 and intraday low of 171. The net turnover during the day was Rs. 27985485.