The Finance Committee of the Board of Directors of Muthoot Finance Limited ("Company") at its meeting held on February 20, 2020, has approved the pricing, tenure and other terms of the Notes under the GMTN Programme (the "Issue"). The proceeds of the Notes will be used by the Company for onward lending in accordance with the Foreign Exchange Management (Borrowing and Lending) Regulations 2018, the circulars issued thereunder by the Reserve Bank of India ("RBI"), Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations dated March 26, 2019, and any other instructions issued by RBI in this regard.
The 4.40% Fixed Rate Senior Secured Notes due 2023 ("Notes") is issued under the USD 2 billion Global Medium Term Note Programme ("GMTN Programme").
The Notes will be secured by, a first ranking pari passu floating charge (by way of hypothecation) over all current assets, book-debts, loans and advances, receivables, including gold loan receivables, both present and future and all benefits, rights, title, interest, claims and demands whatsoever of the Issuer in, to or in respect of all the aforesaid amounts, both present and future.
The notes will be listed at International Securities Market of London Stock Exchange.
Shares of MUTHOOT FINANCE LTD. was last trading in BSE at Rs.913.3 as compared to the previous close of Rs. 874.9. The total number of shares traded during the day was 331985 in over 7185 trades.
The stock hit an intraday high of Rs. 935.2 and intraday low of 867.3. The net turnover during the day was Rs. 303374443.