Muthoot Finance announced the early results its tender offer for repurchasing its outstanding $550mn 4.4% bonds due September 2023. It has agreed to buy back up to $225mn of its bonds at par for bondholders that tendered the bond early. Holders will also receive accrued and unpaid interest and additional amounts, if any, in cash. The bonds were issued in March 2020 and are rated BB/BB+.

Its 4.4% 2023s are currently trading at 99.18 at a yield of 6.42%.

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