Tata Motors Finance to raise $400 million through foreign bonds

Company to raise another Rs 5,000 crore in local debt

The board of Tata Motors Finance is meeting on Monday to take a call on raising Rs 5,000-crore debt from local institutions and another $400 million as foreign bonds. The funds will be used to repay its debt, part of which is due next month, say lending sources. After restructuring in FY17, Tata Motors Finance Holdings has become the holding company for the financial services business of Tata Motors. 

The Tata group also runs a separate financial services business under the umbrella of Tata Capital. While Tata Motors Finance funds new vehicles of Tata Motors, its promoter Tata Motors Finance