Tata Capital raises $400 million through bond issue
after close1 source ↓written by the desknot a recommendation
- has successfully raised
- $400 million
- US dollar-denominated bond
- 3.5-year
- over the three-year
- 107 basis points
Tata Capital has successfully raised $400 million through a 3.5-year US dollar-denominated bond issue, enhancing its funding sources. The bonds, carrying a fixed coupon of 5.332%, were priced at 107 basis points over the three-year US Treasury, reflecting strong investor demand. This marks Tata Capital's second entry into the US dollar bond market, following a recent credit rating upgrade.
This fundraising effort will support Tata Capital's lending operations and diversify its financial portfolio, potentially boosting market sentiment towards the company.
Not investment advice. For informational purposes only.