Tata Steel Plans First Dollar-Denominated Bond Sale in 3 Years
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Tata Steel Ltd., India’s largest producer of the alloy, plans to raise as much as $1 billion selling high-yield bonds, according to three people familiar with the matter.
The company is in talks with banks to arrange the sale, said the people, asking not to be identified because the terms aren’t set. The banks may be hired by early next month and proceeds from the sale will be mainly used to refinance loans, the people said. Charudatta Deshpande, Mumbai-based spokesman at Tata Steel, declined to comment.