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  3. Tata Capital to raise up to $2 billion from overseas market

Tata Capital to raise up to $2 billion from overseas market

27 Dec 2024

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Key Takeaways

Tata Capital’s $2 billion MTN, strong FY24 results, and September 2025 IPO target highlight its growth and regulatory alignment.

Tata Capital’s $2 billion MTN, strong FY24 results, and September 2025 IPO target highlight its growth and regulatory alignment.

tata

Tata Capital

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Expert Analysis

Tata Capital Plans to Raise $2 Billion in Global Debt Market.

Expert Analysis:

  • Tata Capital's Global Debt Market Move: After merging with Tata Motors' NBFC subsidiary, Tata Capital has become the 12th largest non-bank player by AUM and is raising $2 billion through its medium-term notes (MTN) program.

  • Credit Rating and S&P Details: S&P has assigned a BBB- rating to the MTN issue, equalizing ratings on senior secured and unsecured notes with the issuer's long-term credit rating due to prudential regulation.

  • Senior Unsecured Notes: Senior unsecured notes will be direct, unconditional, and unsubordinated, ranking equally with other senior unsecured obligations.

  • Funding Mix (March 2024): Tata Capital had a wide funding base from multiple lenders, including NCDs (39%), term loans (42%), and ECBs (7%) from Tata Capital’s diversified funding base.

  • Financial Performance (FY24): The company reported ₹13,309 crore in revenue and ₹2,492 crore in net profit for FY24.

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