UPL, Muthoot Finance add to Indian bond flurry

India flag resized 230px
By Morgan Davis
21 Feb 2020

Investors flocked to Indian credits on Thursday, as UPL Corp and Muthoot Finance sealed new dollar bonds in a busy market.

UPL Corp, formerly known as United Phosphorus, sold a $400m subordinated transaction.

The Baa3/BBB-/BBB- rated Indian borrower manufactures and markets agricultural and industrial chemicals. The company last visited the dollar market in March 2018, when it sold a $300m 4.5% 2028 senior bond.

The new transaction ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.