Muthoot FinCorp announces 16th series of NCDs, offering up to 9.43% yield per annum
Muthoot FinCorp, the flagship entity of Muthoot Pappachan Group (Muthoot Blue), has announced its 16th series of secured, redeemable, non-convertible debentures (NCDs), that will offer a yield up to 9.43% (per annum).
«Effective yield (per annum) for the NCD holders in all categories of investors ranges from 8.65-9.43%,» the company said in a statement.
The secured NCDs issued under Tranche I have been rated at ‘AA-/ Stable’ by CRISIL and are proposed to be listed on the debt market segment of BSE.
Through the issue, the company plans to raise an amount aggregating up to Rs 400 crore, which is within the shelf limit of Rs 1,100 crore.
The first tranche issuance of Rs 100 crore comes with a green shoe option of Rs 300 crore aggregating up to Rs 400 crore.
The Tranche I issue with a face value of Rs 1000 has been open to the public from Friday, September 1 till September 14, subject to an early closure as may be approved by the Board.
The NCDs under the Tranche I Issue are being offered with maturity/tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across different schemes from which the customers can conveniently choose.
The funds will be used for onward lending, financing, and for repayment/ prepayment of interest and principal of existing borrowings of the company and for the general corporate purposes.
“Our strength is the belief and trust of our customers from across the country for more than 136 years and I am happy to announce the 16th series of NCDs from Muthoot FinCorp," said Shaji Varghese, CEO, Muthoot FinCorp.
«Customers come from various walks of life, and this is a great platform for both existing customers and prospective investors to
