Tata Motors soothes loan refi angst with record bond

Debt-burdened carmaker Tata Motors set a new record in India’s corporate bond market on Wednesday with a Rp42bn ($840m) debut that eases its refinancing worries and shows a renewed interest in India’s domestic capital markets.

  • 21 May 2009

Tata Motors clinched the title for the biggest domestic issue from a private sector company as part of its efforts to refinance a $3bn bridge loan that funded the acquisition of Jaguar Land Rover last year.

Lenders can now breathe a sigh of relief after the success of ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 74,266.46 209 13.33%
2 Bank of America Merrill Lynch 64,298.92 202 11.54%
3 Wells Fargo Securities 55,583.74 178 9.98%
4 JPMorgan 40,447.01 140 7.26%
5 Credit Suisse 30,239.23 97 5.43%