{"id":17881,"date":"2020-01-07T17:30:01","date_gmt":"2020-01-07T17:30:01","guid":{"rendered":"http:\/\/faceinews.com\/?p=17881"},"modified":"2020-01-07T17:30:01","modified_gmt":"2020-01-07T17:30:01","slug":"manappuram-finance-ltd-raises-us-300-million-in-3-year-bonds","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=17881","title":{"rendered":"MANAPPURAM FINANCE LTD raises US$ 300 million in 3-year bonds"},"content":{"rendered":"

\"image001\"<\/a><\/p>\n

\"Faceinews<\/a><\/p>\n

MANAPPURAM FINANCE LTD raises US$ 300 million in 3-year bonds<\/h1>\n

Maiden international bond issue of the company sees overwhelming investor interest<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

Chennai, 7th\u00a0January 2020:\u00a0Manappuram\u00a0Finance\u00a0Ltd.,\u00a0one\u00a0of\u00a0India\u2019s\u00a0leading\u00a0NBFCs\u00a0predominantly\u00a0focused\u00a0on\u00a0gold\u00a0loans, has\u00a0successfully\u00a0raised\u00a0US$\u00a0300\u00a0million\u00a0by\u00a0way\u00a0of\u00a0senior\u00a0secured\u00a0fixed\u00a0rate\u00a0notes\u00a0issuance\u00a0for\u00a0a\u00a03-year\u00a0tenor.\u00a0The\u00a0issue\u00a0was\u00a0placed\u00a0with\u00a0a\u00a0coupon\u00a0of\u00a05.90%.<\/h1>\n

\n

This\u00a0is\u00a0the\u00a0first\u00a0issuance\u00a0by\u00a0the\u00a0Company\u00a0in\u00a0the\u00a0global\u00a0bond\u00a0market,\u00a0tapping\u00a0investors\u00a0in\u00a0Asia and\u00a0Europe,\u00a0Middle\u00a0East\u00a0and\u00a0Africa\u00a0(EMEA).\u00a0The\u00a0proceeds\u00a0of\u00a0the\u00a0issue\u00a0will\u00a0be\u00a0used\u00a0for\u00a0onward\u00a0lending\u00a0and\u00a0other\u00a0activities\u00a0as\u00a0permitted\u00a0by\u00a0the\u00a0RBI\u00a0and\u00a0extant\u00a0guidelines\u00a0for\u00a0external commercial\u00a0borrowings.<\/p>\n

\n

Earlier,\u00a0the\u00a0company\u00a0had\u00a0engaged\u00a0extensively\u00a0with\u00a0investors\u00a0during\u00a0a\u00a0roadshow\u00a0across Singapore,\u00a0Hong\u00a0Kong,\u00a0and\u00a0London.\u00a0Buoyed\u00a0by\u00a0strong\u00a0investor\u00a0interest,\u00a0the\u00a0issue\u00a0was launched\u00a0with\u00a0an\u00a0initial\u00a0price\u00a0guidance\u00a0of\u00a0about\u00a06.25%.\u00a0However,\u00a0following\u00a0the\u00a0exceptional interest\u00a0shown\u00a0by\u00a0over\u00a0a\u00a0hundred\u00a0high-quality\u00a0investors,\u00a0the\u00a0final\u00a0order\u00a0book\u00a0exceeded\u00a0US$<\/p>\n

1.15 billion and the company was able to tighten the pricing to 5.90%.<\/p>\n

\n

The\u00a0firm\u00a0offers\u00a0were\u00a0allocated\u00a0mostly\u00a0to\u00a0asset\u00a0and\u00a0fund\u00a0managers\u00a0(87%),\u00a0with\u00a0private\u00a0bankers (8%)\u00a0and\u00a0banks\u00a0(5%)\u00a0taking\u00a0up\u00a0the\u00a0rest.\u00a0Geographically,\u00a076%\u00a0was\u00a0allocated\u00a0to\u00a0accounts\u00a0in\u00a0Asia\u00a0and\u00a024%\u00a0to\u00a0accounts\u00a0in\u00a0EMEA.\u00a0The\u00a0bonds\u00a0will\u00a0list\u00a0on\u00a0International\u00a0Securities\u00a0Market\u00a0of\u00a0the Singapore\u00a0Exchange\u00a0Securities\u00a0Trading\u00a0Limited\u00a0(\u201cSGX-ST\u201d).<\/p>\n

\n

Manappuram\u00a0Finance\u00a0Ltd.\u00a0had\u00a0obtained\u00a0long\u00a0term\u00a0foreign-currency\u00a0and\u00a0local\u00a0currency\u00a0issuer credit\u00a0rating\u00a0of\u00a0\u2018BB-\u2019\u00a0with\u00a0\u2018Stable\u2019\u00a0outlook\u00a0from\u00a0Fitch\u00a0Ratings\u00a0and\u00a0long\u00a0term\u00a0issuer\u00a0credit\u00a0rating\u00a0of\u00a0‘BB-‘\u00a0with\u00a0\u2018Stable\u2019\u00a0outlook\u00a0from\u00a0S&P\u00a0Global\u00a0Ratings.<\/p>\n

\n

In\u00a0a\u00a0statement\u00a0released\u00a0to\u00a0the\u00a0media,\u00a0V.P.\u00a0Nandakumar,\u00a0MD&CEO,\u00a0said\u00a0\u201cThe\u00a0overwhelming\u00a0response from international investors and the attractive pricing in times of global uncertainty,\u00a0is\u00a0once\u00a0again\u00a0a\u00a0reaffirmation\u00a0of\u00a0the\u00a0fundamental\u00a0strength\u00a0of\u00a0our\u00a0business\u00a0model.\u00a0The\u00a0success of\u00a0the\u00a0issue\u00a0and\u00a0its\u00a0attractive\u00a0pricing\u00a0enables\u00a0us\u00a0to\u00a0further\u00a0diversify\u00a0our\u00a0funding\u00a0sources.\u00a0We look\u00a0forward\u00a0to\u00a0a\u00a0sustainable\u00a0and\u00a0mutually\u00a0beneficial\u00a0long-term\u00a0partnership\u00a0with\u00a0our\u00a0global\u00a0bond\u00a0investors.\u201d<\/p>\n

\n

UBS\u00a0AG\u00a0Singapore\u00a0Branch\u00a0(“UBS”)\u00a0acted\u00a0as\u00a0Global\u00a0Coordinator.\u00a0UBS\u00a0and\u00a0Barclays\u00a0Bank\u00a0PLC\u00a0acted\u00a0as\u00a0Joint\u00a0Book\u00a0Runner\u00a0for\u00a0the\u00a0issue.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANAPPURAM FINANCE LTD raises US$ 300 million in 3-year bonds Maiden international bond issue of the company sees overwhelming investor interest \u00a0 Chennai, 7th\u00a0January 2020:\u00a0Manappuram\u00a0Finance\u00a0Ltd.,\u00a0one\u00a0of\u00a0India\u2019s\u00a0leading\u00a0NBFCs\u00a0predominantly\u00a0focused\u00a0on\u00a0gold\u00a0loans, has\u00a0successfully\u00a0raised\u00a0US$\u00a0300\u00a0million\u00a0by\u00a0way\u00a0of\u00a0senior\u00a0secured\u00a0fixed\u00a0rate\u00a0notes\u00a0issuance\u00a0for\u00a0a\u00a03-year\u00a0tenor.\u00a0The\u00a0issue\u00a0was\u00a0placed\u00a0with\u00a0a\u00a0coupon\u00a0of\u00a05.90%. This\u00a0is\u00a0the\u00a0first\u00a0issuance\u00a0by\u00a0the\u00a0Company\u00a0in\u00a0the\u00a0global\u00a0bond\u00a0market,\u00a0tapping\u00a0investors\u00a0in\u00a0Asia and\u00a0Europe,\u00a0Middle\u00a0East\u00a0and\u00a0Africa\u00a0(EMEA).\u00a0The\u00a0proceeds\u00a0of\u00a0the\u00a0issue\u00a0will\u00a0be\u00a0used\u00a0for\u00a0onward\u00a0lending\u00a0and\u00a0other\u00a0activities\u00a0as\u00a0permitted\u00a0by\u00a0the\u00a0RBI\u00a0and\u00a0extant\u00a0guidelines\u00a0for\u00a0external commercial\u00a0borrowings. Earlier,\u00a0the\u00a0company\u00a0had\u00a0engaged\u00a0extensively\u00a0with\u00a0investors\u00a0during\u00a0a\u00a0roadshow\u00a0across Singapore,\u00a0Hong\u00a0Kong,\u00a0and\u00a0London.\u00a0Buoyed\u00a0by\u00a0strong\u00a0investor\u00a0interest,\u00a0the\u00a0issue\u00a0was launched\u00a0with\u00a0an\u00a0initial\u00a0price\u00a0guidance\u00a0of\u00a0about\u00a06.25%.\u00a0However,\u00a0following\u00a0the\u00a0exceptional interest\u00a0shown\u00a0by\u00a0over\u00a0a\u00a0hundred\u00a0high-quality\u00a0investors,\u00a0the\u00a0final\u00a0order\u00a0book\u00a0exceeded\u00a0US$ 1.15 billion and the company was able to tighten the pricing to 5.90%. The\u00a0firm\u00a0offers\u00a0were\u00a0allocated\u00a0mostly\u00a0to\u00a0asset\u00a0and\u00a0fund\u00a0managers\u00a0(87%),\u00a0with\u00a0private\u00a0bankers (8%)\u00a0and\u00a0banks\u00a0(5%)\u00a0taking\u00a0up\u00a0the\u00a0rest.\u00a0Geographically,\u00a076%\u00a0was\u00a0allocated\u00a0to\u00a0accounts\u00a0in\u00a0Asia\u00a0and\u00a024%\u00a0to\u00a0accounts\u00a0in\u00a0EMEA.\u00a0The\u00a0bonds\u00a0will\u00a0list\u00a0on\u00a0International\u00a0Securities\u00a0Market\u00a0of\u00a0the Singapore\u00a0Exchange\u00a0Securities\u00a0Trading\u00a0Limited\u00a0(\u201cSGX-ST\u201d). Manappuram\u00a0Finance\u00a0Ltd.\u00a0had\u00a0obtained\u00a0long\u00a0term\u00a0foreign-currency\u00a0and\u00a0local\u00a0currency\u00a0issuer credit\u00a0rating\u00a0of\u00a0\u2018BB-\u2019\u00a0with\u00a0\u2018Stable\u2019\u00a0outlook\u00a0from\u00a0Fitch\u00a0Ratings\u00a0and\u00a0long\u00a0term\u00a0issuer\u00a0credit\u00a0rating\u00a0of\u00a0‘BB-‘\u00a0with\u00a0\u2018Stable\u2019\u00a0outlook\u00a0from\u00a0S&P\u00a0Global\u00a0Ratings. In\u00a0a\u00a0statement\u00a0released\u00a0to\u00a0the\u00a0media,\u00a0V.P.\u00a0Nandakumar,\u00a0MD&CEO,\u00a0said\u00a0\u201cThe\u00a0overwhelming\u00a0response from international investors […]<\/p>\n","protected":false},"author":2,"featured_media":17882,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-17881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/17881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17881"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/17881\/revisions"}],"predecessor-version":[{"id":17883,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/17881\/revisions\/17883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/17882"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}