Tata Motors Limited to issue NCDs worth ₹500 cr - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Tata Motors Share Price: On Wednesday, Tata Motors opened on the BSE at Rs 356.50, swinging to an intra day high of Rs 358.80 and an intra day low of Rs 339.60, so far.
Share:
The SPAC Deal: Wallbox will go public via SPAC merger with
Kensington Capital Acquisition Corp II (NYSE: KCAC). The deal values the company at a pro forma enterprise value of $1.5 billion.
Kensington Capital was the same SPAC group that took Quantumscape Corp (NYSE: QS) public in a SPAC merger.
The company will trade on the New York Stock Exchange with ticker WBX after the merger and current KCAC public shareholders will own 12.9% of the company.
About Wallbox: Established in 2015, Wallbox creates smart charging and energy management solutions. The company designs, manufactures and distributes electric vehicle charging solutions for the residential, public and semi-public sectors.
Encl: As attached On Wednesday, 2nd June 2021, TML Holdings Pte. Ltd. ( TMLH or the Issuer ), a wholly owned subsidiary of Tata Motors Limited ( TML ), successfully priced a USD 425 million 5NC2.5 year Fixed Rate Senior Unsecured Reg S only issuance due 2026 (the Notes ) at a coupon rate of 4.350%. The Notes have received a rating of B from Standard & Poor s Rating Service ( S&P ), which is equated to S&P s rating on TML (rated B with stable outlook). The Notes will be issued on 9th June, 2021 with a maturity date of 9th June, 2026. TMLH is the holding company of JLR Automotive Plc ( JLR ), Tata Daewoo, Korea and few other international operations of Tata Motors. The proceeds from the Notes issuance will be used by TMLH for refinancing the outstanding syndicated loan facility of GBP 225 million, for meeting the issue expenses and for other general corporate purposes.