India's Tata Sons to raise min 2.5bn rupees through bonds

MUMBAI: Tata Sons, the holding company of India's Tata group, plans to raise at least 2.5 billion rupees ($44.75 million) via dual-tenure bonds, a source with direct knowledge of the matter said on Thursday.

The firm will issue 5-year bonds at 9.66 percent to raise at least 1.5 billion rupees and will issue 10-year bonds at 9.67 percent to raise a minimum of 1 billion rupees, the source said.

HSBC India is the arranger to the deal.