<article>Tata Industries has raised Rs 250 crore through corporate bonds issue while Vedanta Resources would raise up to $1 billion in dollar bonds.</article>

Tata Industries has raised Rs 250 crore through corporate bonds issue while Vedanta Resources would raise up to $1 billion in dollar bonds.
<h3 style="text-align: justify;">Tata Industries raises $39m via corporate bonds</h3>
<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Tata+Industries" target="_blank" rel="noopener noreferrer">Tata Industries</a> has raised Rs 250 crore ($38.8 million) through sale of corporate bonds to three companies to pare its debt.
The buyers include Birla Sunlife Mutual Fund, Aditya Birla Finance and Kotak Mutual Fund, according to an Economic Times <a style="color: #000080;" href="http://economictimes.indiatimes.com/industry/banking/finance/tata-industries-raises-rs-250-crore-via-corporate-bonds-to-refinance-debt/articleshow/59780943.cms" target="_blank" rel="noopener noreferrer">article</a>.
The funds will also be used for general business purposes.
Tata Industries issued 2,500 non-convertible debentures (NCDs) of the face value of Rs 10 lakh each. Kotak Mutual Fund and Birla Sunlife Mutual Fund subscribed to Rs 100 crore worth of NCDs each while Aditya Birla Finance subscribed to Rs 50 crore worth of NCDs, the ET report said.
<h3 style="text-align: justify;">Vedanta to raise up to $1b through dollar bonds</h3>
<a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Vedanta+Resources" target="_blank" rel="noopener noreferrer">Vedanta Resources</a> plans to raise up to $1 billion in dollar bonds, The Economic Times <a style="color: #000080;" href="http://economictimes.indiatimes.com/industry/banking/finance/vedanta-to-raise-up-to-1-billion-in-dollar-bonds/articleshow/59780476.cms" target="_blank" rel="noopener noreferrer">reported</a> citing people with direct knowledge of the development.
The sale is likely to happen as early as next week.
Bankers from Barclays, JP Morgan, HSBC and Credit Suisse, and the London-based Vedanta are conducting investor road-shows in North America, Europe, Middle East and Asia. Bonds in the latest series would be due for redemption in either seven or 10 years, the ET report said.
In January this year also, the company had raised $1 billion by selling bonds to refinance its debt.
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Tata Industries has raised Rs 250 crore through corporate bonds issue while Vedanta Resources would raise up to $1 billion in dollar bonds.

India Digest: Tata Industries, Vedanta raise funding via bonds

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India Digest: Tata Industries, Vedanta raise funding via bonds

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