Tata Motors To Raise Up To $300 Million By Issuing Bonds This Month
Tata Motors Ltd. on Wednesday said its board has okayed the pricing and tenure of $300 million (over Rs 2,163.37 crore) fundraise, through bonds to be issued later this month.
The committee authorised by the board at its meeting held on Nov. 13 has approved the pricing, tenure and other terms of $300 million 5.875 percent senior notes due 2025, Tata Motors said in a regulatory filing.
The company said the bonds will be issued to investors identified by the committee and will be listed on Singapore Exchange Securities Trading Ltd.
Tenure of the instrument is from Nov. 20 to May 20, 2025.
The coupon of 5.875 percent per annum is to be payable semi-annually in arrear on May 20 and Nov. 20 of each year, Tata Motors said.