Tata Motors has raised a sum of $750 million through global depository shares (GDS) and convertible bonds to repay the loan it had taken to acquire Jaguar and Land Rover (JLR). The company had taken a $3 billion loan in 2008 for the acquisition, and has already repaid the major part of it. Apart from repayment of debt, the proceeds will also be used on capital expenditure, working capital needs and for other corporate purposes.
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Tuesday, October 13, 2009
Tata Motors raises $750 million to pay off JLR debt
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