Tata Motors raises $300 million via debt securities

Tata Motors has raised $300 million (about Rs 1,800 crore) through an issue of

RELATED ARTICLES

debt securities carrying a fixed interest rate.

TML Holdings Pte Ltd, a wholly owned subsidiary of the company, issued and allotted $300 million in principal amount of 5.75 per cent senior fixed rate notes due 2021, Tata Motors said today in a filing to the BSE.

"The net proceeds from the notes will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purposes," it added.

Australia and New Zealand Banking Group Ltd, Bank of America Merrill Lynch, Citigroup and HSBC acted as joint lead managers and joint book runners, the company said.

"The response from investors for the issue was overwhelming, with the orders aggregating over $2 billion," Tata Motors Head of Treasury and Investor Relations Vijay B Somaiya said.

Tata Motors shares gained 1.36 per cent to Rs 422.15 at the close on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture