India’s largest truck and bus maker, Tata Motors Ltd, is in advanced negotiations with banks and financial institutions, including Life Insurance Corp. of India(LIC), to raise between Rs2,000 crore and Rs3,000 crore through nonconvertible debentures (NCDs), two persons familiar with the move said.
The money will be used to repay part of the $3 billion (Rs15,150 crore today) bridge loan the company took to buy Ford Motor Co.’s marquee brands Jaguar and Land Rover for $2.3 billion last January. About $2 billion of the loan amount is due by June. SBI Capital Markets Ltd, Citigroup Global Markets India Pvt. Ltd and Tata Capital Ltd, the Tata group’s non-banking financial company that also has an investment banking arm, will manage the fresh fund-raising programme, the two persons said. “The appointment of investment bankers will be finalized soon, in the next one week,” one of the two persons, a Tata group executive, said.
SBI Capital will play a “senior role” and lead-manage the issue, the other person, an investment banker advising Tata Motors on NCDs, said on Monday evening.
Showing posts with label Tata Motors. Show all posts
Showing posts with label Tata Motors. Show all posts
Friday, April 10, 2009
Saturday, March 21, 2009
Tata Motors enters into tie-up with Bank of Baroda
In order to provide an added facility of car finance to its customers, Tata Motors has entered into an understanding with Bank of Baroda for financing its range of passenger vehicles.
Bank of Baroda, a public sector undertaking, caters to the needs of industry as well as retail segment. The bank has pan India presence with over 2900 branches spread all over the country. It has recorded over 50% growth in the auto loan segment during the first 11 months of this fiscal.
Bank of Baroda offers car loans up to 85% of the invoice price, for tenure ranging up to 7 years, at a very competitive rate of 10.5% p.a.
This facility will be available at all 2900 branches of Bank of Baroda and 470 sales touch points of Tata Motors. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for the customers.
Bank of Baroda, a public sector undertaking, caters to the needs of industry as well as retail segment. The bank has pan India presence with over 2900 branches spread all over the country. It has recorded over 50% growth in the auto loan segment during the first 11 months of this fiscal.
Bank of Baroda offers car loans up to 85% of the invoice price, for tenure ranging up to 7 years, at a very competitive rate of 10.5% p.a.
This facility will be available at all 2900 branches of Bank of Baroda and 470 sales touch points of Tata Motors. This tie-up will provide a single window for both cars as well as car loans and will make car buying easier for the customers.
Friday, September 14, 2007
Fiat ready with tech support to Tata on Jaguar bid
Italy's Fiat is ready to lend technical support to Indian partner Tata in an eventual bid for Land Rover and Jaguar, the premium brands which Ford Motor is putting up for sale.
"If Tata is interested in Jaguar and Land Rover, we are ready to provide technical support," a Fiat spokesman told reporters attending the Frankfurt International Motor Show.
The spokesman clarified a comment made to reporters earlier in the day by Fiat Chief Executive Sergio Marchionne during a tour of the exhibits set up by the automaker's various brands.
In response to a question about Fiat's interest in Land Rover and Jaguar through a Tata bid for them, Marchionne had joked: "For completely different reasons, we are interested in both." Last weekend, Fiat Chairman Luca Cordero di Montezemolo had told reporters that the Italian automaker was not interested in the two British-based brands.
Tata, a major partner for Fiat in India where they both make cars and engines, would be one of several potential bidders for the two brands. A source familiar with the matter has told media that India's Mahindra & Mahindra Ltd and US buyout firms TPG and Ripplewood have expressed interest.
Ford plans to have more details on the sale of Jaguar and Land Rover by the end of 2007 or early 2008.
(source: Economic Times)
"If Tata is interested in Jaguar and Land Rover, we are ready to provide technical support," a Fiat spokesman told reporters attending the Frankfurt International Motor Show.
The spokesman clarified a comment made to reporters earlier in the day by Fiat Chief Executive Sergio Marchionne during a tour of the exhibits set up by the automaker's various brands.
In response to a question about Fiat's interest in Land Rover and Jaguar through a Tata bid for them, Marchionne had joked: "For completely different reasons, we are interested in both." Last weekend, Fiat Chairman Luca Cordero di Montezemolo had told reporters that the Italian automaker was not interested in the two British-based brands.
Tata, a major partner for Fiat in India where they both make cars and engines, would be one of several potential bidders for the two brands. A source familiar with the matter has told media that India's Mahindra & Mahindra Ltd and US buyout firms TPG and Ripplewood have expressed interest.
Ford plans to have more details on the sale of Jaguar and Land Rover by the end of 2007 or early 2008.
(source: Economic Times)
Thursday, July 19, 2007
Tata Motors invests in Thailand automobile plant
India's Tata Motors has invested in a 1.3 billion baht (around $39 million) joint venture to manufacture and assemble one-ton pickup trucks in Thailand, media reports confirmed Thursday.
Tata Motors (Thailand) Company, a joint venture between India's Tata Motor (70 per cent) and Thailand's Thonburi Automotive Assembly Plant (30 per cent), was granted Board of Investment BoI tax incentives Wednesday to assemble and manufacture parts for 35,000 pickups a year bearing the Tata logo, the Bangkok Post reported.
Thailand is currently the world's second largest manufacturer of one-ton pickup trucks, an all-purpose utility vehicle popular among farmers and provincial businesses that claims about 60 percent of the country's automotive market and is a major export item for the kingdom.
Industry sources told the Bangkok Post that the Tata brand pickups will be sold in Thailand for between 400,000 to 500,000 baht ($12,000 to $15,000), below the 600,000 to 1,000,000 baht (18,000 to 29,000 dollars) of other pickups currently sold on the Thai market. About 20 percent of the annual production will be exported.
(Source: Economic Times)
Tata Motors (Thailand) Company, a joint venture between India's Tata Motor (70 per cent) and Thailand's Thonburi Automotive Assembly Plant (30 per cent), was granted Board of Investment BoI tax incentives Wednesday to assemble and manufacture parts for 35,000 pickups a year bearing the Tata logo, the Bangkok Post reported.
Thailand is currently the world's second largest manufacturer of one-ton pickup trucks, an all-purpose utility vehicle popular among farmers and provincial businesses that claims about 60 percent of the country's automotive market and is a major export item for the kingdom.
Industry sources told the Bangkok Post that the Tata brand pickups will be sold in Thailand for between 400,000 to 500,000 baht ($12,000 to $15,000), below the 600,000 to 1,000,000 baht (18,000 to 29,000 dollars) of other pickups currently sold on the Thai market. About 20 percent of the annual production will be exported.
(Source: Economic Times)
Tata, M&M may bid for Jaguar & Land Rover
Tata Motors, India’s biggest automobile company, and tractor and utility vehicle major Mahindra & Mahindra are understood to be exploring the possibility of bidding for Jaguar and Land Rover, owned by the Ford Motor Company. The deal size is being estimated at about $1.5 billion (£735 million) for the two-storied brands that epitomise the British automobile industry.
Industry analysts said that the Tatas may finance the bid in conjunction with Fiat, which has the Ferrari and Alfa Romeo brands in its portfolio. The two automobile majors recently entered into an alliance to jointly market and manufacture Fiat models in India.
According to sources in the auto industry, the bids are due soon and both Indian players see considerable value in these cult luxe marques. However no final decision has been made by either player. Sources also say that Tata Motors may also be looking to team up with private equity players for the deal, apart from the possibility of bidding with Fiat. Indeed the Tata-Fiat combine could even team up with a private equity player, though there is no confirmation of this.
As for M&M, its real interest is in Land Rover, say analysts, but since the two brands are being offered as a package deal, it is looking at a combined bid. Although there is no confirmation on the size of the deal, international media is pegging it at around $1.5 billion, significantly more than the $848 million that the Dearborn (Michigan)-based Ford got for its other British bespoke brand Aston Martin this March.
(Source: Economic Times )
Industry analysts said that the Tatas may finance the bid in conjunction with Fiat, which has the Ferrari and Alfa Romeo brands in its portfolio. The two automobile majors recently entered into an alliance to jointly market and manufacture Fiat models in India.
According to sources in the auto industry, the bids are due soon and both Indian players see considerable value in these cult luxe marques. However no final decision has been made by either player. Sources also say that Tata Motors may also be looking to team up with private equity players for the deal, apart from the possibility of bidding with Fiat. Indeed the Tata-Fiat combine could even team up with a private equity player, though there is no confirmation of this.
As for M&M, its real interest is in Land Rover, say analysts, but since the two brands are being offered as a package deal, it is looking at a combined bid. Although there is no confirmation on the size of the deal, international media is pegging it at around $1.5 billion, significantly more than the $848 million that the Dearborn (Michigan)-based Ford got for its other British bespoke brand Aston Martin this March.
(Source: Economic Times )
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