Tata Capital raises USD 400 million via 3.5-year international bonds
TATACAP · price
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Tata Capital raised USD 400 million through senior unsecured Reg S bonds with a 3.5-year tenor at a 5.332% fixed coupon, priced at UST plus 107 bps, 33 bps tighter than initial guidance. The order book was oversubscribed 4 times with strong demand from Asia and EMEA investors. This is the company's second USD bond issuance under its USD 2 billion EMTN programme, following its S&P BBB rating upgrade and equity listing. Proceeds will fund onward lending under ECB norms.
Strong demand and tighter pricing signal investor confidence. Diversifies funding mix and supports growth, but adds foreign-currency liability to the balance sheet.