Tata Capital raises USD 400M via senior unsecured notes at 5.332%
TATACAP · price
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On the reaction day the stock moved 1.9 pts less than Nifty 100 and 2.0 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Tata Capital approved terms for USD 400 million senior unsecured Reg S notes under its US$2 billion EMTN programme. The 3.5-year notes carry a 5.332% fixed coupon, priced at UST plus 107 bps (33 bps tighter than initial guidance), rated BBB by S&P, maturing 21 January 2030. Order book oversubscribed 4 times. Proceeds will fund onward lending under ECB norms. This is the second USD bond issuance and first after S&P upgrade and equity listing. HSBC, MUFG and Standard Chartered were joint bookrunners.
Strong demand and tight pricing reflect investor confidence in credit profile; diversifies funding for growth.