Tata Steel Ltd.

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Large Cap | Steel & Iron Products
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Tata Steel Plans 1,500-cr Bond Issue

Date: 17-03-2011

Tata Steel aims to raise as much as 1,500 crore ($332 million) in the nation’s first sale of rupee perpetual bonds by a non-finance company. JPMorgan Chase & Co and ICICI Bank will arrange the sale.

The company will pay a coupon of 11.8% on the bonds, which can’t be called for redemption for the first 10 years. Tata Steel group announced a 7,000 crore rupee fundraising plan in November.crackcrack