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SBI buys ₹200 crore worth NCDs issued by Muthoot Fincorp
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₹200 crore issued by Muthoot Fincorp, according to news agency PTI. The flagship company of 136-year-old Muthoot Pappachan Group on Tuesday said the debt issue has a five-year maturity with half-yearly being the frequency of the interest payment.
However it didn't reveal the pricing of the issue. Shaji Varghese, CEO of the company said the proceeds from the NCD issue will be utilised for onward lending, business operations and further expansion and growth plan.
Muthoot Fincorp has over 3,600 branches across the country and offers gold loans, small business loans, auto loans, home loans and loans against property, among others. More to come Milestone Alert!
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