UPL, Muthoot Finance add to Indian bond flurry
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 ...
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