India’s Tata Motors says it has raised $750 million through the sale of new global depositary receipts and convertible bonds. The Indian automaker will use most of those funds to pay down the debt incurred by the purchase of the Jaguar and Land Rover brands.
Although a seemingly significant sum, the funds raised will only put a dent in Tata’s total debt. Thanks in large part to the purchase of Jaguar and Land Rover, Tata currently holds $5.2 billion in consolidated debt, according to Reuters. Tata paid Ford $2.5 billion for the Jaguar and Land Rover brands last year.
Tata originally planned to sell $600 million worth of global depositary receipts, but upped that figure to $750 million after receiving better-than-expected demand.
However, the news is encouraging to the automotive industry – particularly to Indian automakers – as the fund raising is seen as a sign of an improving global economy. Indian automakers have raised nearly $18 billion this year, triple the level seen last year.
10/09, 12:31 PM
posted by:
Need more oil for GM
Thats better then what GM (goverment motors) did. Just sucked off the good old tax payers ! Suckers!
10/09, 1:00 PM
posted by:
Bosley The Troll
Here’s an idea, how about using that money to improve the piece of junk mini-pickup Appalachian they plan to introduce in North America. I think my car has more space in the truck than that thing in the bed…….
10/09, 1:10 PM
posted by:
DenverGuy217
I wonder if those odd daylight running lights scare the bears away as the vehicles trudge offroad
It’s odd seeing an LR without a blonde driving and a cell phone stuck to her ear, and making lane changes without utilizing the directionals
10/09, 1:10 PM
posted by:
pundits
Bosley-
Thats an entirely different auto manufactuter…(Mahindra not Tata). First aquire an ounce of culture before your next post.
Sincerely,
Disappointed in our education system
10/09, 1:17 PM
posted by:
Bosley The Troll
Well Pundits, that was a little harsh you A$$HOLE! How do you even know where I live? If you’re an American your education system is extremely lacking as well, so shut the hell up………
10/09, 1:45 PM
posted by:
leftwingagenda
that made no sense, just saying…
10/09, 1:45 PM
posted by:
bosley the dbag
Yah pundits us bosleys are way smarter than you stupid Amaricen tards, everybody knows that anything other than geo cars aren’t worth bying. Our eduucatun is way beter then youres. Bosely pride!
10/09, 2:04 PM
posted by:
johnnycanuck
DenverGuy, that’s funny as hell. I saw her on Tuesday here in Vancouver… and no sh*t, she was a blonde and doing exactly that.
10/09, 2:17 PM
posted by:
idrinorbarsaku
I wonder why gm can’t do this!?!?!
10/09, 2:21 PM
posted by:
DenverGuy217
I swear she must have a thousand identical twin sisters running around on this continent! There’s one three houses down from us with an LR sport. I don’t think I’ve ever seen her left ear.
10/09, 5:04 PM
posted by:
sundi
—Johnnycanuck, 57th and Knight?
10/09, 5:09 PM
posted by:
johnnycanuck
… headed southbound towards the tunnel from the Blundell overpass. You know another one?
10/09, 8:55 PM
posted by:
leftwingagenda
gm can’t raise money via bonds because they went bankrupt…they’ve raised billions in the past by issuing bonds, but a company’s bonds tend to become worthless when that company goes bankrupt, and nobody is going to buy more bonds from a bankrupt company…i would expect gm to offer bonds again someday, but only after they’ve gone completely through the reorg, shown a profit, and re-issued common stock first…
10/09, 10:42 PM
posted by:
johnnycanuck
leftwing, we’re talking about saving the wildlife population here. Tag a blond LR driving vixen today and you’re preserving the future cougar population for tomorrow. Please, stick to the topic.
GM bonds? I mean like really… for sure… oh, you’re such a biatch.
10/10, 8:37 AM
posted by:
2WheeledSpeed
I can’t get close enough on my bike to tag them without them trying to attack me and run me off the road! My next plan is to convert my paintball gun into a dart gun and ambush one as they fill up at a local gasoline watering hole.
10/10, 10:40 AM
posted by:
DenverGuy217
At this point, I think those new Toyota floor mat ties are worth more than a GM bond would be.
Umm what was the main topic again?
10/10, 7:49 PM
posted by:
leftwingagenda
damn, ok, well…what to do to atone for my bad behavior…hmm…i know, i’ll head out for dinner and leer at any female over 35 with tight pants on…i can’t really be more specific about looks, this is st. louis!
10/11, 11:26 AM
posted by:
DenverGuy217
—- now picturing middle-aged St Louis women in tight pants.
Argh MY EYES! MY EYES! Help!!!!!!!!
10/11, 12:21 PM
posted by:
johnnycanuck
Denverguy… look away from the camel toe! Dammit man- I know you can do it!
10/11, 6:43 PM
posted by:
DenverGuy217
Hahahahahahahahahahahahahahaha