Wed 11/25/2020 03:19 AM
TML Holdings Pte Ltd., a wholly-owned subsidiary of Tata Motors Ltd., has mandated ANZ, Citigroup, DBS Bank Ltd., HSBC and Standard Chartered Bank as joint lead managers and bookrunners for a potential offering of dollar-denominated Reg S senior unsecured bonds, according to a mandate announcement seen by Reorg.
The investor calls for the proposed senior unsecured bonds starts from today (Nov. 25), according to the announcement.
The notes are expected to have the benefit of a letter of comfort provided by Tata Motors and are expected to be rated B1 by Moody’s and B by S&P, according to the announcement.
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