Mumbai, Oct. 1: Tata Sons Limited, the holding company for most of the Tata group companies, today said that its $100 million five-year syndicated term loan has been oversubscribed.
Commenting on the transaction, finance director Ishaat Hussain, said, “We are delighted at the overwhelming response to our first transaction in the international syndicated term-loan market. The response has been almost twice the original size of the facility.”
The facility was arranged and fully underwritten by Barclays Capital, Crédit Agricole Indosuez, DBS Bank Ltd and State Bank of India, the mandated lead arrangers.
Tata Sons is the principal investment holding company of the Tata Group headquartered in Mumbai. It plays a primary role in helping formulate and execute policies and strategies for the Tata Group and its member companies.