10 Apr 2026
Deal: Trilegal advised on the update of Muthoot Finance’s US$ 2 billion GMTN programme and subsequent issuance in GIFT City
22 May 2024
22 May 2024
Trilegal advised on the update by Muthoot Finance Limited (MFL) of its US$ 2 billion global medium term note program as well as a subsequent drawdown as sole domestic counsel. The drawdown comprised an issuance of 144A / Regulation S US$ denominated senior secured notes due in 2028 with a coupon of 7.125%, aggregating to US$ 650 million (Offering). Deutsche Bank AG, Singapore Branch and Standard Chartered Bank were the arrangers, and together with DBS Bank Ltd. and SMBC Nikko Securities (Hong Kong) Limited were the managers to the Offering. The notes were listed on NSE IFSC Limited, in GIFT city, India.
MFL is the largest gold loan NBFC in terms of loan portfolios. The issue proceeds will be applied for the purpose of onward lending and other activities as may be permitted by RBI.
The Trilegal Capital Markets team was led by Partner Richa Choudhary and comprised Avanti Kale and Maitreya Rajurkar, Counsels, and Aayush Khandelwal and Shivayana Balodia, Associates.
The Trilegal Banking and Finance team was led by Partner Pranav Sharma and comprised Aditi Bagri, Counsel.
The Taxation team was led by Partner Komal Dani, and comprised Jenisha Gala, Senior Associate and Himeesha Dhiliwal, Associate.
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About Trilegal
Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.
Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.
For more information, please contact:
Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com
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