May 20, 2013 09:14 AM IST | Source: Reuters

Tata Motors subsidiary issues $280 m senior notes

TML Holdings Pte Ltd, a Tata Motors subsidiary, had issued and allotted S$350 million of senior notes due 2018. Singapore Pte Ltd, Deutsche Bank AG , Singapore Branch and Standard Chartered Bank acted as joint lead managers and joint bookrunners.

Tata Motors subsidiary issues $280 m senior notes

Tata Motors Ltd said its subsidiary TML Holdings Pte Ltd had issued and allotted S$350 million of senior notes due 2018.

The notes carry an interest rate of 4.25 percent, Tata Motors, part of the salt-to-steel conglomerate Tata Group, said in a statement on Saturday.

Net proceeds from the issue will be used to redeem preference shares issued to Tata Motors and for general corporate purposes, the company said.
Australia and New Zealand Banking Group Ltd , Citigroup Global Markets

Singapore Pte Ltd, Deutsche Bank AG , Singapore Branch and Standard Chartered Bank acted as joint lead managers and joint bookrunners.

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