By Sarah Lizee
Olympia, Wash., May 20 – Tata Motors Ltd. notified the Bombay Stock Exchange that its board of directors met on Wednesday and approved an offering of Rs. 10 billion of 8.8% secured redeemable nonconvertible debentures due May 26, 2023 at par in a private placement.
The series E29-A debentures will be listed on BSE Ltd. and the National Stock Exchange of India Ltd.
Tata Motors is an automaker based in Mumbai.
| Issuer: | Tata Motors Ltd.
|
| Issue: | Series E29-A secured redeemable nonconvertible debentures
|
| Amount: | Rs. 10 billion
|
| Maturity: | May 26, 2023
|
| Coupon: | 8.8%
|
| Price: | Par
|
| Approval date: | May 20
|
| Rating: | Crisil: AA-
|
| Distribution: | Private placement
|
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