India’s Tata Motors starts cash tender for 4 5/8% senior notes due 2020

By Tali Rackner

Minneapolis, June 1 – Tata Motors Ltd. launched a cash tender offer on Friday for up to $250 million of its outstanding $500 million 4 5/8% senior notes due 2020, according to a 6-K filing with the Securities and Exchange Commission.

The tender offer will expire at 11 a.m. ET on June 14.

The company said it will purchase the notes at a price of $1,025 per $1,000 principal amount.

Settlement is slated for June 25.

The notes are currently listed on the Singapore Exchange Securities Trading Ltd.

The company said it intends to use proceeds from an external commercial borrowing facility to finance the tender.

Tata Motors is an automaker based in Mumbai.

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