India’s Tata Steel plans Rs. 10 billion 10-year redeemable debentures

By Susanna Moon

Chicago, Sept. 29 – Tata Steel Ltd. notified the Bombay Stock Exchange that it plans to issue 10-year redeemable unsecured debentures in a private placement.

The issue was approved at a board meeting held on Thursday, according to the notice.

The company will issue 10,000 of the bonds with a face value of Rs. 1 million each with a bullet maturity.

The notes will be listed and has been rated AA+ by Credit Analysis & Research Ltd. and Brickwork Rating India Private Ltd.

Tata Steel is based in Mumbai.

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