Muthoottu Mini Financiers opens NCD issue

| Updated on January 22, 2020

Muthoottu Mini Financiers Limited has opened an issue of non-convertible debentures (NCDs) of base size up to ₹100 crore and an option to retain over-subscription of up to ₹100 crore, with the total issue size aggregating to ₹200 crore.

The public issue is scheduled to close on February 2. CARE Ratings has assigned a credit rating of ‘CARE BBB-; stable’ to the NCD. The issue is in the nature of secured redeemable NCDS and is being issued under seven options consisting of varied tenors ranging from 480 days to 85 months.

The coupon rate for these options range from 9.40 per cent to 10.50 per cent with the effective yield per annum going up to 11.02 per cent depending upon the option selected. Options range from monthly to cumulative interest payment. The NCDs are listed on the BSE.

Published on January 22, 2020

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