Mumbai, Oct 02: Tata Sons Ltd has raised US dollar 100 million through a five year syndicated term loan facility. The facility was arranged and fully underwritten by Barclays Capital, Credit Agricole Indosuez, DBS Bank Ltd and State Bank of India, the group said in a release here today.
Tata Sons said the facility was successfully closed with bank of Taiwan, Singapore branch, BNP Paribas, Singapore branch, Bumiputra-Commerce, London branch, Emirates Bank International PJSC and Rabobank International joining as arrangers.
Tata Sons finance director Ishaat Hussain said "we are delighted at the overwhelming response to our first transaction in the international syndicated term loan market. This is more so because we received a response of almost twice the original size of the facility".
Barclays Capital India head of investment banking Raju Shukla said "while the company retained USD 100 million on account of RBI approvals, we were particularly pleased that a USD 75 million transaction achieved a book of approximately USD 140 million, the only corporate deal out of India to attract such an overwhelming response". Bureau Report