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Cash-for-gold lender Muthoot Finance joins trend shunning new dollar debt

Muthoot Finance Ltd. is extending a trend in emerging Asia that's dragged down bond issuance in the US currency to its lowest since 2015

Muthoot Finance
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Muthoot Finance

Divya Patil | Bloomberg
India’s largest cash-for-gold lender by market value plans to repay a $450 million bond later this month, but it isn’t in any rush to tap the offshore market again after yields surged this year. 

Muthoot Finance Ltd. is extending a trend in emerging Asia that’s dragged down bond issuance in the US currency to its lowest since 2015. Debt offerings from Asia ex-Japan in the greenback have almost halved to about $158 billion so far in 2022 compared with the year-earlier-period, while an Indian company hasn’t issued in the market since April.

The Indian currency fell to a record low

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First Published: Oct 20 2022 | 12:38 PM IST

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