Muthoot Finance board approves USD 2 bn ECB plan

New Delhi, April 18, 2024.

Gold loan financier Muthoot Finance on Thursday said its board has approved USD 2 billion (about Rs 16,500 crore) External Commercial Borrowing (ECB) plan to fund business expansion.

The Finance Committee of the Board of Directors of Muthoot Finance at its meeting held on Thursday has approved the update of the existing Global Medium Term Note (GMTN) Programme aggregating to USD 2 billion, Muthoot Finance said in a regulatory filing.

The company has also approved the offering circular and the programme agreement and other transaction documents to be executed with respect to the GMTN Programme, it said.