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Muthoot Microfin Limited Raises USD 75 Million via ECB

Muthoot Microfin Limited Raises USD 75 Million via ECB
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India: Muthoot Microfin secures $75m through external commercial borrowings

Muthoot Microfin Limited has secured a term loan of $75 million in the form of external commercial borrowings (ECBs).

Ad daw ahSadaf sayeedRas al khaimahUnion bankRakbank national bankStandard chartered bankMuthoot microfinIndia united kingdom ltdDoha bankCanara bankMuthoot microfin limitedNational bankUnited kingdomChartered bank

Muthoot Microfin: Muthoot Microfin secures $75 million external commercial borrowing for diversified funding

The loan is raised for three years and three months tenure and benchmarked to a three-month term SOFR (Secured Overnight Financing Rate) with a margin of 2.85%. The cost comes to 9.58% a year, lower than lender s incremental cost of 10.41% for the past none months, Muthoot Microfin chief executive Sadaf Sayeed told ET.

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Latest News | Muthoot Microfin Raises USD 75 Mn Via ECB

Get latest articles and stories on Latest News at LatestLY. Muthoot Microfin on Thursday said it has raised USD 75 million by way of external commercial borrowing for on-lending and financing of social loans. Latest News | Muthoot Microfin Raises USD 75 Mn Via ECB.

New delhiAd daw ahSadaf sayeedMuthoot microfinRas al khaimahUnion bankRakbank national bankStandard chartered bankCanara bankDoha bankIndia united kingdom ltdChartered bankNational bankUnited kingdomExternal commercial borrowingSecured overnight financing rate