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Manappuram Finance gets nod to raise $300 million through notes

07 Jan 2020 Evaluate

Manappuram Finance has received approval to raise funds through issuance of fixed rate senior unsecured notes aggregating to $300 million and the pricing, tenure and other terms of the Notes. The rating for US Dollars senior secured fixed rate notes is S&P - ‘BB-’ and Fitch Ratings - ‘BB-’. The coupon or interest rate offered is 5.90% per annum. The Financial Resources and Management Committee of the Board of Directors of the Company at its meeting held on January 06, 2020 approved the same.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

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