Tata raises $840m to repay part of Jaguar loan
Sunday, 24 May 2009
MUMBAI, May 23 (AFP): Top Indian vehicle maker Tata Motors has raised US$840 million in debentures to partly repay a loan taken to finance its purchase of British car icons Jaguar and Land Rover, a statement said.
Tata took a three-billion-dollar bridge loan last year to buy the prestige marques but has been struggling to repay the money against the backdrop of the global financial crisis, which has made credit harder to come by.
Tata took a three-billion-dollar bridge loan last year to buy the prestige marques but has been struggling to repay the money against the backdrop of the global financial crisis, which has made credit harder to come by.