Tata Comm to raise $204 million via bond sale in Singapore
The overseas bond issued by Tata Communications (Netherlands) BV is unrated. The company is issuing the bond with an Reg S status, which means the bond can't be sold to US-based investors, and doesn't have to be registered with the US Securities & Exchange Commission.
The bond has been guaranteed by the parent company, Tata Communications, and will be listed in Singapore. Earlier this month, the country’s second largest lender, ICICI Bank, raised SGD 225 million through a seven-year Singapore dollar-denominated bond. The bank had given a price guidance of 4%, while the final pricing saw tightening of 0.35% to 3.65%. Tata Communications is the fourth Indian company and the first private non-financial company to use the overseas bond market to raise funds this year.
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