Tata Motors is seeking to raise a term loan of $500 million, Bloomberg reports. The two-part facility comprises a $200 million piece, which is due to mature in five years, and a $300 million portion, which matures in seven years. The Indian owner of Jaguar Land Rover appointed State Bank of India (SBI) to help it with the borrowing. The company intends to use the loan for general corporate purposes and SBI anticipates completing syndication in mid-October.
Click here for the story from Bloomberg.