Tata Steel, the debt-laden metals company, has reported that in order to repay some of its foreign loans it is looking to raise about 250 million Singapore dollars in its first foreign currency bond issue this fiscal. The company will raise the money through its fully owned subsidiary ABJA Investment Company.
Tata Steel is the guarantor to the bonds and will be meeting investors in the island city this week to gauge their interest. The pricing will depend on the credit history and investors’ perception of the company.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
