The dual-tranche offering is one of the largest bond issuances from India this year
Milbank, Tweed, Hadley & McCloy LLP advised India’s Tata Steel Ltd. on its dual tranche issuance of $1.5 billion in unsecured bonds. The bonds will be listed on the Frankfurt Stock Exchange.
In one of the largest bond offerings from India this year, Tata Steel raised $500 million in 4.85% notes due 2020 and $1 billion in 5.95% notes due 2024. Proceeds will be used to implement the company’s strategic plan including off shore investment.
Milbank Singapore-based Securities partner Naomi Ishikawa led the Milbank team advising Tata Steel.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the eleven global steel companies with an annual crude steel capacity of over 28 million tonnes per annum. It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
In addition to Ms. Ishikawa, the Milbank team representing Tata Steel included Securities partner Giles Kennedy, and associates Jim McFarlane and Ka-Wai Woo.
