ta-ta to cheap Indian CB's

Tata Motor secures record for largest and most aggressively priced Indian CB

Tata Motor returned to the Indian CB market for the first time in nearly a year yesterday Monday with one of the most expensive equity-linked offerings by an Asian company in recent memory.

Its achievement was considerable given that at $400 million the issue size represents two-thirds of all Indian issuance since 2001. There have been just six deals and only one has topped $150 million. It is the largest deal on record.

What Tata's deal...

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