Mumbai (Maharashtra), June 3 -- : TML Holdings Pte Ltd (TMLH), a wholly-owned subsidiary of Tata Motors Ltd (TML), has successfully priced a USD 425 million five-and-a-half year fixed rate senior unsecured Reg S only issuance due 2026 at a coupon rate of 4.35 per cent.
The notes have received a rating of B from Standard & Poor which is equated to its rating on TML. The notes will be issued on June 9, 2021 with a maturity date of June 9, 2026, TML said in a statement on Thursday.
TMLH is the holding company of JLR Automotive Plc, Tata Daewoo of South Korea and few otherinternational operations of Tata Motors.
"The proceeds from notes issuance will be used by TMLH for refinancing the outstanding syndicated loan facility of GBP 225 million,...