Bond Factsheet
MUTHIN 7.125% 14Feb2028 Corp (USD)
Muthoot Finance Limited
Indicative
Full Lot
Bid Price 100.267
Change in Bid Price
-
Bid Yield (%) 6.906 %
Change in Bid Yield
-
Ask Price 100.625
Change in Ask Price
-
Ask Yield (%) 6.626 %
Change in Ask Yield 0.001
Indicative price as of 02 Oct 2026, 4:33pm
Bond Issuer
Muthoot Finance Limited
Guarantor
-
Announcement Date
07 May 2024
Issue Date
14 May 2024
Maturity Date
14 Feb 2028
Years to Maturity / Next Call
1.361 / -
Modified Duration
1.263 @ 02 Oct 2026
Issue / Reoffer Price
99.950
Issue / Reoffer Yield
7.125
Coupon Type
Fixed
Annual Coupon Rate
7.125
Coupon Frequency
Semi Annually
Seniority
First Lien
Reference Rate
-
ISIN
US62828M2C41
CUSIP
62828M2C4
Bond Currency
USD
Total Issue Size
750,000,000
Min. Investment Quantity (Nominal)
USD 200,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Diversified Financial Services
Issuer Credit Rating (S&P/ Fitch)
***/ BB+
Bond Credit Rating (S&P/ Fitch)
***/ BB+
Shariah Compliant
No
Exchange Listed
Others
Change Control Put
“Change of Control” occurs when:
1. the Promoter Group collectively no longer holds Control of the Issuer;
2. the Promoter Group collectively, directly or indirectly, no longer holds at least 50% of the voting rights of the issued share capital of the Issuer; or
3. any other Person (acting alone or in concert with any other parties, but other than a Person controlled by the Promoter Group) holds Control or holds, directly or indirectly, a greater percentage of the voting rights of the issued share capital of the Issuer than the Promoter Group
“Change of Control Triggering Event” means both a Change of Control and a Rating Decline
“Promoter Group” shall have the meaning ascribed to the term under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
Additional Note
Unless previously redeemed or purchased and cancelled as provided below, the Issuer will redeem the Notes in 5 instalments on each amortisation date specified in column A below (each, an “Amortisation Date”) at its Final Redemption Amount as specified in the Pricing Supplement, plus accrued and unpaid interest to, but not including, the applicable Amortisation Date. The amount of Notes to be redeemed on a particular Amortisation Date (such amount, the “Amortisation Amount”) shall be equal to the product of (x) the applicable Amortisation Percentage on the applicable Amortisation Date set forth in column B below times (y) the principal amount of Notes issued on the Issue Date; provided that such Amortisation Amount shall be adjusted proportionately to give effect to any issuances, redemptions, repurchases or cancellations of Notes after the Issue Date.
If payment of the relevant Amortisation Amount is improperly withheld or refused in respect of a Note, the relevant principal amount of such Note will remain outstanding until whichever is the earlier of (i) the day on which all sums due in respect of such Note up to that day have been paid and (ii) the Business Day after the Trustee has given notice to the Noteholders in accordance with Condition 15 (Notices) that it has received all sums due in respect of such Notes up to that Business Day (except to the extent that there is any subsequent default in payment in accordance with these Conditions). The Notes shall be finally redeemed at their final Amortisation Amount payable on the Maturity Date.
Amortization Schedule
| Amortisation Date (A) | Amortisation Percentage (%) (B) |
|---|---|
| 14 February 2027 | 20 |
| 14 May 2027 | 20 |
| 14 August 2027 | 20 |
| 14 November 2027 | 20 |
| Maturity Date | 20 |
In these Conditions, references to "principal" shall, unless the context requires otherwise, be deemed to include any Amortisation Amount and references to the "due date" for payment shall, unless the context requires otherwise, be deemed to include any Amortisation Date.”
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