Tata Sons plans to use the proceeds to repay debt of units Tata Teleservices and Tata Teleservices Maharashtra. Photo: BloombergMumbai: Tata Sons Ltd is seeking an offshore syndicated loan, as it seeks to pay down expensive debt at telecommunications units, according to people familiar with the matter. Tata Sons plans to use the proceeds to repay debt of units Tata Teleservices and Tata Teleservices Maharashtra, according to a separate person familiar with the matter, who asked not to be identified as the person isn’t authorized to speak. The weighted average fixed coupon on Tata Teleservices Maharashtra debt is 11.3%, more than three percentage points higher that Tata Sons, according to data compiled by Bloomberg. The loan is set to be the first offshore syndicated facility taken out by Tata Sons since 2007, according to data compiled by Bloomberg.

Source: Mint March 09, 2018 07:52 UTC