Muthoot Finance has proposed to raise $2 billion (around Rs 14,200 crore) from foreign market to fund its business growth. The board of the company approved the establishment of a Global Medium Term Note Programme for raising up to $2 billion through issuance of foreign currency bonds or rupee denominated bonds overseas on public/private basis in international markets subject to market conditions and regulatory approvals.
In another development, the company has been assigned long term rating of ‘BB+’ with a stable outlook by Fitch Ratings. Besides, S&P Global Ratings has assigned a long term rating of ‘BB’ with stable outlook to the company. Moody's Investor Service has assigned ‘Ba2’ Corporate Family Rating with 'stable' outlook. These ratings will enable the company to access international debt market.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 1004.75 |
| Shriram Finance | 1042.60 |
| Aditya Birla Capital | 391.85 |
| Chola Invest & Fin. | 1791.70 |
| Tata Capital | 365.75 |
| View more.. | |
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