Muthoot Finance, India’s largest gold loan NBFC, has raised USD 600 million from international bond market through an External Commercial Borrowing (ECB) issuance. The funds will be deployed for lending activities, enabling Muthoot Finance to provide additional credit to customers across India.The issuance attracted strong global participation, with 36% of the funds coming from investors in Asia, 15% from EMEA, and 49% from the US. By investor type, 91% of the subscription came from fund and asset managers, 4% from private banks and banks, 4% from insurance companies, and the remaining 1% from other investors.The fundraise, under USD2billion Global Medium-Term Note (GMTN) Programme, has been priced at 6.375% with a door-to-door tenor of 4.5 years and a weighted average life of 4 years. The notes are rated BB+ by S&P and Ba1 by Moody’s. This marks the fifth drawdown under the GMTN programme since May 2024, bringing the total funds raised via this route to USD 2 billion. This is the first issuance of Muthoot Finance following its rating upgrades by global credit rating agencies S&P Global in March 2025 and Moody’s in April 2025.