Tata Motors Finance plans to raise up to $1 billion through NCDs

TMFL will be 3rd major company from Tata group this year to tap overseas market

Taking a cue from Tata group companies, Tata Motors Finance (TMFL), the vehicle financing arm of Tata Motors, plans to raise up to $1 billion from international markets by way of issuing non-convertible debentures (NCDs). 

With this, TMFL would be the third major company from the Tata group this calendar year to tap the international market after the holding firm Tata Sons raised $1.5 billion and Tata Capital Financial Services took the board’s permission to raise $1.5 billion.

According to a source, the TMFL board cleared the foreign bond issue on Thursday. The proceeds of the issue will be used