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Tata Motors plans to raise 3 billion rupees via bonds-source

Source : REUTERS
Last Updated: Wed, Mar 20, 2013 11:17 hrs
Men walk inside a Tata Motors showroom on the outskirts of Agartala

Tata Motors is planning to raise 3 billion rupees ($55.13 million) through 26-month bonds at 9.15 percent, a source with direct knowledge of the deal said.

The bonds are rated AA by Care rating agency, and Yes Bank is the sole arranger to the bond sale, said the source.

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