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Tata raises AUD$830 million towards Jaguar Land Rover debt

By Matt Brogan |

India’s Tata Motors says it has raised AUD$830 million through the sale of new global depositary receipts and convertible bonds, money that will be used to help pay off debt incurred during the purchase of Jaguar and Land Rover.

The news isn’t all good however with that sum likely to make only a small dent in Tata’s total consolidated debt, a figure Reuters Newsagency estimates at some AUD$5.76 billion. Tata paid Ford AUD$2.77 billion for the Jaguar and Land Rover brands last year.

Tata originally planned to sell AUD$665 million worth of global depositary receipts, but upped that figure to AUD$830 million after receiving better-than-expected demand.

tata-prima-concept_file_222

The news is encouraging to the automotive industry on the whole, particularly to Indian manufacturers, as the fund raising is seen as a sign of an improving global economy.

Indian manufacturers have raised nearly AUD$20 billion this year, triple the level seen last year.


 
  • Shak

    that TATA car doesnt look half bad.

  • http://caradvide figo

    that car looks goods,but its still a concept.

  • Reckless1

    With all that debt, it may be byby tata….

  • Carfanatic

    Ford ripped them off, hahaha

  • Kenny

    That could probably be a rebadged Jag. Tata should start to rebadged the Nano as a Jag

  • http://www.carazoo.com/ Carazoo.com India

    Nice review. :-)

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