Aditi Shah
2 minute read
Tata Motors logos are seen at their flagship showroom before the announcement of their Q3 results in Mumbai February 14, 2013. REUTERS/Vivek Prakash/File Photo
Indian automaker Tata Motors (TAMO.NS) has raised $425 million through unsecured offshore bonds at a rate of 4.35% to refinance existing debt and meet expenses, according to a term sheet of the deal seen by Reuters.
In a statement to the stock exchange, the company confirmed the fund raising and said it will use 225 million pounds ($318 million) of the proceeds to refinance existing loans and the rest to meet corporate expenses.
The bonds have a maturity date of June 2026, it said.
France will set up a new 3 billion euro ($3.67 billion) fund to support mid-sized and large companies as they emerge from the coronavirus crisis, French Finance Minister Bruno Le Maire said on Tuesday.
Italy's Inter Milan aims to roll over a 375 million-euro ($459 million) bond by year end, a source close to the matter said, after the Serie A champions secured fresh financing through a deal with investment firm Oaktree Capital Group (OAK pa.N).
Sweden and Denmark said on Wednesday they had agreed to offer ailing airline SAS (SAS.ST), in which both countries own stakes, a 3 billion Swedish crown ($361 million) loan guarantee.