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Tata Motors plans to buy-back NCDs worth Rs 450 crore ahead of maturity

14 Jan 2016 Evaluate

Tata Motors is contemplating to buy back Non-Convertible Debentures (NCDs) aggregating to Rs 450 crore ahead of their scheduled maturity. The company is taking this step as a part of its plans to restructure debt in order to ensure balanced maturity profile and/or better terms that would lower cost of debt.

The board of directors meeting is scheduled to be held on January 18 to consider and approve buyback of unsecured NCDs of two tranches. The first tranche of unsecured NCDs totaling Rs 200 crore is due to mature on November 30, 2018, while the second tranche of Rs 250 crore is due to mature on May 28, 2019.

Tata Motors is India’s largest automobile company, with consolidated revenues of Rs 2,62,796 crore ($42.04 billion) in 2014-15. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia.



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