Tata Steel to raise 10 bn rupees via dual tranche bonds
Reuters: Mumbai, Jan 23 2013, 13:13 IST
Tata Steel is planning to raise 10 billion rupees ($185.82 million) through a dual tranche bond sale, a source with direct knowledge of the deal said on Wednesday.
The company will issue six-year and eight-year bonds at 9.15 percent, the source said.
The issue is rated AA+ by Care and Brickworks and is scheduled to open and close on Thursday.
Yes Bank is the sole arranger to the bond sale, said the source.
Tata supplies steel and related services to construction, automotive and aerospace markets among others.
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