Tata Power Eyes $450 Million Overseas Loan
Tata Power (NSE:TATAPOWER, BOM:500400) is eyeing a five-year loan worth at least $450 million overseas, The power company is currently in early-stage negotiations with banks for the loan, which will be used for its business operations. The company will secure the loan with shares it holds in Indonesian and Singaporean units, the people said. Tata Power is reportedly "evaluating all financing options including ECB loans in order to optimize cost of debt and based on the end use," The company isn't currently considering ECB loans to raise $450 million, Churiwala clarified. Tata Power did not immediately respond to ' request for a comment.
Tata Power (NSE:TATAPOWER, BOM:500400) is eyeing a five-year loan worth at least $450 million overseas, The power company is currently in early-stage negotiations with banks for the loan, which will be used for its business operations.
The company will secure the loan with shares it holds in Indonesian and Singaporean units, the people said.
Tata Power is reportedly "evaluating all financing options including ECB loans in order to optimize cost of debt and based on the end use," The company isn't currently considering ECB loans to raise $450 million, Churiwala clarified.
Tata Power did not immediately respond to ' request for a comment.