Muthoot navigates NBFC volatility for $450m debut

Jewellery
By Morgan Davis
22 Oct 2019

Muthoot Finance raised $450m from its maiden dollar bond on Monday, after showing investors the difference between its operations and that of other beleaguered Indian non-banking financial companies (NBFCs).

India's NBFCs have been plagued with turmoil and volatility over the past year, triggered by the default and collapse of Infrastructure Leasing & Financial Services (IL&FS) in 2018. IL&FS's woes have since damaged the industry. For instance, fellow housing finance company Indiabulls’ rupee-denominated 2021 bond took a battering ...

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