The Netherlands unit of Indian telco group Tata Communications has raised S$250m (US$203m) through its first Singapore dollar-denominated bond issue.
The notes mature in three years and have Reg S status which means they cannot be sold to US-based…
The Netherlands unit of Indian telco group Tata Communications has raised S$250m (US$203m) through its first Singapore dollar-denominated bond issue.
The notes mature in three years and have Reg S status which means they cannot be sold to US-based investors, according to a source cited in a Dow Jones newswire report.
The bonds have a coupon of 4.25% and were oversubscribed by investors. 63% of the issue went to institutional investors and the rest went to high net worth individuals, said the Economic Times.
ANZ, DBS Bank, Royal Bank of Scotland and Standard Chartered Bank were bookrunners on the transaction.
Tata joins a growing number of Indian companies which have issued Singapore dollar-denominated debt in order to diversify their investor base.
Tata is listed on the Bombay Stock Exchange and the National Stock Exchange of India and its ADRs are listed on the New York Stock Exchange.
