Muthoot Finance Ltd - an Indian financial corporation that is also known as the largest gold financing company in the world raised $550 million from International Bond Markets for a 3.5-year tenor at 4.4 percent. It has successfully priced a $550 Million Fixed Rate Senior Secured Note issuance in 144A/Reg S format for a 3.5-year tenor at 4.400 per cent, the company said.

The proceeds of the issue will be used for permitted purposes including onward lending following RBI's ECB Guidelines and other applicable laws, the NBFC pointed.

After the transaction, the company engaged several investors during a series of fixed income investor calls in Hong Kong, Singapore, London, and the US. On the back of high-quality feedback, the transaction was launched with initial pricing guidance of 4.750% area.

Following a strong order book momentum supported by high-quality real money investors, the company was able to tighten pricing by 35bps to 4.400 per cent.

The final order book was more than USD1.6 billion with an oversubscription of more than 2.9x. The transaction witnessed 38 per cent participation from Asia, 13 per cent from Europe and 50 per cent from the US; with 89 per cent investments from fund managers, 6 per cent from private banks, 3 per cent from insurance & banks and 2 per cent from others reported IANS.

M.G. George Muthoot, Chairman stated, "The response from international bond investors in our second issue is quite overwhelming. We are glad to know that global investors have understood our unique credit story acknowledging our long track record in the gold loan business. This is a recognition of India's NBFC sector. This fund raised will enable us to further diversifying and strengthening our sources of funding. We look forward to strengthening our partnership with global investors."