On 23 October 2014
Tata Motors announced the pricing of a dual-tranche US$750 million senior unsecured notes (Notes) following strong demand aggregating USD 4.50 billion for the Offering that was launched and priced within a single day on 23 October 2014.The Notes issued include:
- US$500 million Senior Unsecured Notes due 2020 at a coupon of 4.625% per annum
- US$250 million Senior Unsecured Notes due 2024 at a coupon of 5.750% per annum
The proceeds from the issuance and sale of the Notes will be used to refinance external commercial borrowing of the Company, incur new additional capital expenditure and for general corporate purposes.
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