Tata Capital raises USD 400 million from a bond issue in the US

Tata Capital raised USD 400 million by issuing a 3.5-year Fixed Rate Senior Unsecured Reg S Bond in the US, under its USD 2 billion external medium-term notes programme. The bond was priced at 1.07 percent over the 3-year US Treasury, with a fixed coupon of 5.332 percent, and the order book was oversubscribed about four times by investors across Asia and EMEA. This makes Tata Capital the only Indian private-sector NBFC to have accessed the USD bond market with an investment grade rating at the time of issuance, with the funds aimed at supporting its liability profile and long-term growth.