Tata Capital Eyes $750 Million Overseas Debut for Funding Growth

Tata Capital Eyes $750 Million Overseas Debut for Funding Growth


India's Tata Capital is venturing into overseas fundraising for the first time. Aiming to diversify its funding sources, the company hopes to raise around $750 million through offshore bonds or loans in the next fiscal year starting in April.

This move comes amidst a rebound in overseas borrowing by Indian corporates. While dollar-denominated bond issuance hit a 14-year low in 2023, it has bounced back recently with expectations of easing US interest rates.

Tata Capital plans to capitalize on this trend. The company is aiming for a loan book growth of over 25% in the next fiscal year, requiring a similar increase in borrowing. They have also secured a first-time issuer rating from S&P Global Ratings and Fitch Ratings, paving the way for potential bond issuance.

This overseas fundraising attempt reflects the evolving scenario for Indian NBFCs. Rising funding costs and an inverted bond yield curve are pushing NBFCs like Tata Capital to explore new avenues for funding their growth aspirations.


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