Key Developments: Tata Motors Ltd (TAMO.NS)
288.10INR
24 May 2013
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Latest Key Developments (Source: Significant Developments)
Tata Motors Ltd's Subsidiary Announces Issue of SGD350 Million Senior Fixed Rate Notes Due 2018
Tata Motors Ltd announced that TML Holdings Pte Ltd, a wholly owned subsidiary has issued and allotted SGD350,000,000 in principal amount of 4.25% senior notes due 2018. The net proceeds from the issue will be used for the redemption of preference shares issued to Tata Motors Ltd and for general corporate purposes. Australia and New Zealand Banking Group Ltd, Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch and Standard Chartered Bank acted as joint lead managers and joint bookrunners. Full Article
Tata Motors Ltd's Tata Technologies To Acquire Cambric Corporation
Tata Motors Ltd announced that Tata Technologies has signed definitive agreements for the acquisition of US-based Cambric Corporation, an engineering services company. Cambric has three development centres in Romania and its customers include some of the world's marquee heavy machinery, agricultural, off-highway and automotive companies. It provides system level engineering and design capabilities in engine, powertrain, chassis/structures, body, electrical and hydraulic systems to its global customers, Cambric is privately held company with private equity investors holding majority stake in the company. Financial terms of the transaction were not disclosed. Full Article
AirAsia Bhd Denies Plan For Malaysia Venture With Tata Motors Ltd-DJ
Dow Jones reported that AirAsia Bhd has no plan to establish a joint venture (JV) in Malaysia with Tata Motors Ltd to build low-cost vehicles. The Mint newspaper reported that the companies are considering an alliance to make Tata Motors' Nano minicar and light commercial vehicles such as the Ace, Magic and Winger in Malaysia. AirAsia has no knowledge about the possibility of such an alliance, a spokesman for the Malaysia-based airline operator told The Wall Street Journal. Full Article
Tata Motors Ltd To Launch 6 Heavy Duty Trucks-Business Line
Business Line reported that Tata Motors Ltd's Business Unit (CVBU) is set to launch six heavy duty trucks along with an intelligent vehicle and driver management solution Tata FleetMan Telematics Services. The vehicles set for launch on February 16, 20113 are Tata LPT 3723 – 37 tonner cargo trucks, LPK 3118 – 31 tonner tipper, Prima 3138 K–380 HP mining Tipper, Prima LX 4023 S–40 Tonner Range Prima Trailor, Prima LX 4923 S–49 Tonner Range Tractor and Tata Prima 4938 S–49 Tonner Range Tractor. Full Article
Tata Motors Ltd Receives BEL Order-Business Line
Business Line reported that Tata Motors Ltd has bagged Bharat Electronics Ltd (BEL) order for 6x6 multi-axle mobility vehicles to mount radar applications for the Indian Air Force. The Tata 6x6 multi-axle vehicle will give BEL’s radar system the mobility to be placed strategically, at almost any location, to detect both low-flying aircraft and spy planes or unmanned aerial vehicles. Tata Motors will supply 26 such vehicles to BEL Bangalore. Full Article
Tata Motors Ltd's Jaguar Land Rover Automotive plc Announces Pricing Of $500 Million Senior Notes Offering
Jaguar Land Rover Automotive plc (the Issuer), the parent company of the Jaguar Land Rover group of companies and a subsidiary of Tata Motors Limited announced the pricing of $500 million Senior Notes due 2023 at a coupon of 5.625% per annum (the Notes). The Notes will be guaranteed (the Guarantees) on a senior unsecured basis by Jaguar Land Rover Limited, Land Rover, Jaguar Land Rover North America LLC, Land Rover Exports Limited and Jaguar Land Rover Exports Limited (the Guarantors). The net proceeds from the issuance and sale of the Notes will be used for general corporate purposes, including to support Jaguar Land Rover’s on-going growth and capital spending plans. Full Article
Tata Motors Ltd to Set up Plant in Romania-Auto Business News
Auto Business News reported that Tata Motors Ltd is likely to establish a production facility in Romania. Dailybusiness.ro has reported that the Company has expressed an interest in a site at the Tetorom Three industrial park at the Jucu village, which is being promoted by the Cluj County Council near the city of Cluj. The facility will become a fully-fledged facility producing passenger cars, commercial vehicles and buses for the European markets. It will also produce the new Tata Nano, which will be compliant with the new European Union emission regulations. Full Article
Tata Motors Ltd's Jaguar Land Rover To Raise INR2,100 Crore (INR21 Billion) To Fund Growth-The Economic Times
The Economic Times reported that Tata Motors Ltd-owned Jaguar Land Rover said it will raise $400 million (over INR2,100 crore) through issue of bonds to support operational costs and future growth plans. The notes will be guaranteed on a senior unsecured basis by Jaguar Land Rover, Land Rover, Jaguar Land Rover North America, Land Rover Exports and Jaguar Land Rover Exports, it added. The net proceeds from the issuance and sale of the notes will be used for general corporate purposes, including to support Jaguar Land Rover's ongoing growth and capital spending plans, the Company said. Full Article
Tata Motors Ltd's JaguarLand Rover Starts Assembly of Two XF Variants in India-DJ
Dow Jones reported that Tata Motors Ltd's Jaguar Land Rover PLC, has started assembling two variants of its Jaguar XF sedan in India, a step that will allow the company sell the model at cheaper prices to local customers. Locally assembled vehicles attract lower taxes in India, compared with fully built imported vehicles. JaguarLand Rover has started assembling the sedan with a 3.0-litre diesel engine at its facility in western India's Pune city. Full Article
Tata Motors Ltd Undertakes Major Restructuring-The Economic Times
The Economic Times reported that Tata Motors Ltd' Managing Director, Karl Slym, has initiated a restructuring exercise with an intent to become by 2020, the second largest car maker in sales and maintain leadership position in the commercial vehicle space in the country. The Company has come out with a common vision statement for two verticals - commercials vehicles and passenger cars, instead of earlier norm of a separate vision statement for both. Tata Motors is also aiming to reposition micro car- Tata Nano to excel consumer perception. With the market going through difficult times, Tata Motors is currently operating a single shift for five days across various plants, the report noted. Full Article
Tata Motors subsidiary issues $280 mln senior notes
MUMBAI - Tata Motors Ltd said its subsidiary TML Holdings Pte Ltd had issued and allotted S$350 million of senior notes due 2018.
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