Tata Steel and Hyundai Capital price deals

Tata Steel prices the largest single-issue deal for a corporate borrower in India, while Hyundai revives its ringgit deal.

In India, Tata Steel has succeeded in raising the rupee equivalent of $480 million in what is the largest single-issue bond offering from a private corporate borrower in the domestic market. The bond was upsized from an initial $300 million. Citi was the sole arranger for the deal, which included a three-year $331 million tranche that came at 10.2%, and a seven-year $149 million tranche which priced on a floating-rate basis at 250bp over Mibor.


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