By Sarah Lizee
Olympia, Wash., Feb. 24 – Muthoot Finance Ltd. priced $550 million of 4.4% senior secured notes due 2023 (BB/BB+), according to a notice.
The notes are being issued out of the company’s $2 billion medium-term note program.
The issue is subject to approval by the finance committee of the board of directors on or after March 2.
Ernakulam, India-based Muthoot is a non-banking finance company.
| Issuer: | Muthoot Finance Ltd.
|
| Issue: | Senior secured notes
|
| Amount: | $550 million
|
| Maturity: | 2023
|
| Coupon: | 4.4%
|
| Pricing date: | Feb. 20
|
| Ratings: | S&P: BB
|
| Fitch: BB+
|
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