Tata Motors gives tender offer results for 5¾% notes due 2024

Chicago, June 12 – Tata Motors Ltd. announced that it expects to accept for purchase all $111,943,000 of the outstanding $250 million 5¾% senior notes due 2024 (ISIN: XS1121908211) that were tendered by noteholders before the expiration of the offer, according to a 6-K filing with the Securities and Exchange Commission.

The offer expired at 11 a.m. ET on June 9.

The issuer was offering a purchase price of $1,005 per $1,000 principal amount, plus accrued interest.

The offer was capped at $125 million principal amount of the notes.

Settlement is expected to occur on June 16.

The purpose of the tender offer is for gross debt reduction and management of the company’s debt maturity profile.

The joint dealer managers are BNP Paribas (+65 6210 3322, +44 20 7595 8668; dl.asia.syndicate@asia.bnpparibas.com / dl.liability.management@uk.bnpparibas.com; attn.: Asia Debt Syndicate) and Standard Chartered Bank (+65 6557 8286, +852 3983 8658, +44 20 7885 5739; attn.: liability management; liability_management@sc.com).

Kroll Issuer Services Ltd. (+44 20 7704 0880, +852 2281 0114; tatamotors@is.kroll.com; attn.: Mu-yen Lo; https://deals.is.kroll.com/tatamotors) is the tender and information agent.

Tata Motors is an automaker based in Mumbai, India.

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