Tata Capital’s NCD issue opens on 10th September
Tata Capital Financial Services Ltd (Tata Capital), a non-banking financial company (NBFC), plans to raise Rs.7500 crore through issue of non-convertible debentures (NCDs). The issue which carries an interest of 8.7% - 9.1% will close on 21 September 2018. Tata Capital will issue secured, redeemable NCDs of up to Rs.6000 crore and unsecured, sub-ordinated, redeemable NCDs of up to Rs.1500 crore with face value of Rs.1000 each. The base size of the issue is Rs.2000 crore with an option to retain oversubscription up to Rs.7500 crore. The NCDs under this issue have been assigned the ‘highest degree of safety’ rating by CRISIL and CARE.