25 October, 2014
Tata Motors today announced the pricing of a dual-tranche US$750million senior unsecured notes ("Notes") following strong demand aggregating USD 4.50 Bn for the Offering that was launched and priced within a single day on October 23rd 2014.
The Notes issued include:
– US$500 million Senior Unsecured Notes due 2020 at a coupon of 4.625% per annum
– US$250 million Senior Unsecured Notes due 2024 at a coupon of 5.750% per annum
The proceeds from the issuance and sale of the Notes will be used to refinance external commercial borrowing of the Company, incur new additional capital expenditure and for general corporate purposes.
The Notes are expected to be settled by 30th October, 2014.
"We are pleased to have completed this transaction successfully and we thank the investors for demonstrating their confidence in our Company." Said, Mr. Vijay Somaiya, Vice President, Finance and Head Treasury & Investor Relations, Tata Motors.
The Joint Lead Managers & Bookrunners for this offering were ANZ, Citigroup, Credit Suisse and Standard Chartered Bank.
This announcement does not constitute nor form a part of any offer or solicitation to purchase or subscribe for securities in Singapore, India or elsewhere. The Notes, when offered, will not be sold or made the subject of an invitation for subscription or purchase, whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor pursuant to Section 274 of the Securities and Futures Act (Chapter 289 of Singapore) ("SFA"), (ii) to a relevant person pursuant to Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275, of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
The Notes, when offered, will not be sold or made the subject of an invitation for subscription or purchase, whether directly or indirectly, to any person in India.
The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state of the United States. Consequently, the Notes may not be offered, sold or otherwise transferred within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. No public offering of the Notes is being or will be made in the United States.
About Tata Motors
Tata Motors Limited is India’s largest automobile company, with consolidated revenues of INR 2,32,834 crores (USD 38.9 billion) in 2013-14. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 8 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top in passenger vehicles. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.