Fixed Rate Senior Unsecured Notes News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The auto major on Thursday announced that it has raised $425 million through unsecured offshore bonds at a rate of 4.35% to refinance existing debt and meet general corporate expenses.TML Holdings, a wholly owned subsidiary of Tata Motors, successfully priced a $425 million 5NC 2.5 year Fixed Rate Senior Unsecured Notes due in 2026 at a coupon rate of 4.350%.
The notes have received a rating of B from Standard & Poor s Rating Service, which is equated to S&P s rating on Tata Motor (rated B with stable outlook). The Notes will be issued on 9 June 2021 with a maturity date of 9 June 2026.
The transaction has received significant interest from investors across Asia and Europe with the final order book in excess of $2.2 billion (representing an oversubscription of over 5.1x) from 138 accounts and 84% of the final allocation to high quality, blue-chip real money funds and asset managers. ....

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