Tata Motors extends its bridge loan maturity till Dec 31, 2010

Tata Motors, on 27th May, 2009, has concluded an agreement for amendment of its bridge finance loan, extending the final maturity of US$ 1 billion by 18 months up to 31st December 2010. This agreement, along with the earlier repayments and the Bond issue last week, completes the refinancing of the bridge finance of 12 months of US$ 3 billion raised in June 2008 for the acquisition of Jaguar Land Rover. 21 lenders, including two new banks, participated in this agreement, leading to an oversubscription of 47 per cent of the extended loan.
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