Business & Finance
Tata Power orders $333mn for banks
MUMBAI: India 's Tata Power has mandated YES Bank and Standard Chartered Bank for a 15 billion rupee ($333 million) per
MUMBAI: India's Tata Power has mandated YES Bank and Standard Chartered Bank for a 15 billion rupee ($333 million) perpetual bond issue, two market sources told Reuters on Tuesday.
The bond will have a coupon of 11.40 percent payable semi-annually with a step-up option of 100 basis points after 10 years, the sources said. CRISIL has assigned its 'AA/Positive' rating to this offering.
Copyright Reuters, 2011
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