Tata Steel’s wholly owned subsidiary ABJA Investment Company has priced its issue of Singapore dollars 300 Million 4.95% Senior Unsecured Notes due 2023. The notes, which are guaranteed by Tata Steel, represent unsecured obligations of the Issuer and will rank pari passu with all its other existing and future unsubordinated obligations. The Notes will be listed on the Singapore Stock Exchange.
Tata Steel, in order to repay some of its foreign loans, is looking to raise about 250 million Singapore dollars in its first foreign currency bond issue this fiscal.
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.
