Tata Steel plans to raise Rs 10,000 crore of debt to finance expansion of its Jamshedpur plant and to part-pay debt at Corus Plc, its UK-based business. The company will invest a total of Rs 13,000 crore to expand its steel production capacity from 6.8 million tonnes to 10 million tonnes by September 2011. The company also plans to use Rs 2,200 crore to reduce debt at Corus.
The debt will be raised in two tranches — of Rs 4,000 crore and Rs 6,000 crore over the next two months.The first tranche of Rs 4,000 crore will be raised through a 15-year bond with an annualised coupon of 10.5
No comments:
Post a Comment