India: Tata conversion offer results in debt reduction

Tata Motors has announced that it has managed to reduce debt worth Rs15.57bn (US$345m). This was achieved thanks to a large number of bondholders, representing 93% of the yen bonds, and 76% of the US dollar series bonds, that opted to convert their bonds into ordinary shares. A week earlier, Tata Subscribe to Automotive World … Continued

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• March 31, 2010