Muthoot Finance has announced a tender offer to purchase up to $225mn of its $550m 4.4% bonds due September 2023. The bonds were issued in March 2020 and are rated BB/BB+. Bondholders who tender their notes before the early deadline of April 10 will receive $1,000 per $1,000 in principal amount. For those tendering after the early deadline but before the final deadline, they will receive $980 per $1,000 in principal.
Its 4.4% 2023s are currently trading at 99.18 at a yield of 6.42%.