Tata Power likely to raise Rs 2,000 crore in bond sale on December 18: Report

The bonds are expected to be issued on December 19, the newspaper said.

Tata Power Company is planning to raise Rs 2,000 crore in a bond sale on December 18, a report by the Economic Times said.

The fund will be used to refinance existing debt, invest in clean energy projects and for general corporate reasons, the report said citing sources.

Under the bond sale, the Tata group firm’s first in over two years, the company will issue two securities that will raise Rs 1,000 crore each in three- and five-year non-convertible bonds, the report said.

Yes Bank and ICICI Bank have been roped in as the arrangers for the issue, with the lenders likely to take Rs 300 crore each and leaving the rest for other investors, ET said.

The bonds are expected to be issued on December 19, the newspaper said.

The stock of the company was quoting over 1 percent lower in early trading.