Tata Motors raises $750 mn in Fx bond sale

Written by Press Trust of India | Updated: Oct 27 2014, 06:39am hrs
The country's largest auto maker Tata Motors has raised $750 million from Asian and European investors by selling a dual tranche bond issue which got an over subscription of six times at $4.5 billion, reports PTI. The company has priced the 5.5-year benchmark senior unsecured notes of $500 million at 4.62%, while the coupon for the 10-year $250 million notes is fixed at 5.75% per annum. Earlier, it had sold $300 million worth bonds in April at a coupon of 5.53%.