Muthoot Finance Raises $600 Million via Global Bond Issue

18 Sep 2025 CW Team

Muthoot Finance has raised $600 million through an External Commercial Borrowing (ECB) issuance in the international bond markets, marking the fifth and final drawdown under its Global Medium-Term Note (GMTN) programme since May 2024 and completing the company’s $2 billion target.

The bonds, rated BB+ by S&P and Ba1 by Moody’s, were priced at 6.37 per cent, with a 4.5-year maturity and an average life of four years. This represents Muthoot Finance’s first bond issuance since receiving credit rating upgrades from S&P in March 2025 and Moody’s in April 2025.

Proceeds from the issuance will be used to expand the company’s lending operations across India. George Alexander Muthoot, Managing Director, stated: “The successful ECB highlights our strong growth strategy and sound governance, marking another milestone for the company.”

The issuance drew robust global interest, reflecting investor confidence in Muthoot Finance’s business fundamentals and growth plans. Geographically, 49 per cent of subscriptions came from the US, 36 per cent from Asia, and 15 per cent from EMEA. By investor type, 91 per cent of subscriptions came from fund and asset managers, with the remainder from banks, private banks, and insurers.

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