Companies

Tata Steel raises $1.5 bn in overseas bond sale

Our Bureau Mumbai | Updated on November 25, 2017 Published on July 24, 2014

Tata Steel has raised $1.5 billion (about Rs 9,000 crore) through issue of unsecured bonds in the international markets.

The company issued $500 million of 4.85 per cent bonds due for maturity on January 31, 2020 and $1 billiin of 5.95 per cent bonds maturing on July 31, 2024.

The bonds which was launched on July 24, was distributed 59 per cent in Asia and 41 per cent in Europe and Middle East. The rest was picked up by long term investors including institutions and banks, said the company in a statement on Friday.

Kaushik Chatterjee, Group Executive Director, Tata Steel said the funds would be used to shore up investment in Europe and Middle East.

"The fund raising would also diversify our investor base and extend maturity profile besides optimising finance and capital structure, " he said.

Published on July 24, 2014
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