Tata Steel subsidiary raises SGD 300 million senior unsecured notes

The Issuer incorporated in Singapore, being a wholly owned subsidiary of Tata Steel Limited has priced its issue of SGD 300 Million 4.95% Senior Unsecured Notes (the "Notes") due 2023. The Notes are guaranteed by Tata Steel Limited. The Notes represent unsecured obligations of the Issuer and will rank pari passu with all its other existing and future unsubordinated obligations. The Notes will be guaranteed by Tata Steel Limited. The guarantee will be an unsecured obligation of Tata Steel Limited and will rank pari passu with all its other existing and future unsecured obligations. The Notes will be listed on the Singapore Stock Exchange.

Shares of Tata Steel Ltd was last trading in BSE at Rs.312.55, up by Rs.4 or 1.30%. The stock hit an intraday high of Rs.314.40 and low of Rs.310.05.

The total traded quantity was 7.37 lakhs compared to 2 week average of 9.66 lakhs.

Source : Equity Bulls

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