Tata Motors buys back some 0% yen-, dollar-denominated convertibles

By Devika Patel

Knoxville, Tenn., April 13 - Tata Motors Ltd. informed the Bombay Stock Exchange that it has purchased and extinguished $17 million in zero-coupon convertible alternative reference securities due 2012 and ¥300 million in zero-coupon convertible notes due 2011.

The company bought back 170 of the alternative reference securities at an average price of 50.375. There are $473 million of the securities remaining outstanding.

It bought back 30 of the notes at an average price of 54.27, leaving ¥11.46 billion of the convertibles outstanding.

Based in Mumbai, India, Tata Motors is an auto manufacturing company.

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