Tata Capital successfully raised four hundred million dollars through dollar-denominated bonds. The company achieved a coupon rate significantly below initial guidance. This issuance marks their first after an S&P rating upgrade and equity listing. Proceeds will support onward lending and diversify funding sources for growth. This follows a similar dollar debt issue by the company in January 2025.
The non-banking financial company issued the notes at a spread of 107 basis points (bps) above U.S.
Treasuries, 33 bps tighter than the initial guidance of 140 bps.
Tata Capital said the transaction achieved the largest pricing tightening for a single-tranche investment-grade U.S. dollar bond issuance from India in 2026.
HSBC, MUFG and Standard Chartered Bank acted as joint global coordinators and joint bookrunners for the deal.
Treasuries.
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