anybody went with Tata Steel?
Tata Steel S$ 10Y - Initial Guidance 5.25% area
Update
- Initial guidance of 5.25% area for a new S$ 10Y transaction
- Expect Today's Business
Issuer: ABJA Investment Co. Pte. Ltd.
Guarantor Tata Steel Limited
Structure: Fixed Rate Senior Unsecured Notes
Issue rating: Unrated
Guarantor rating: Moody’s: Ba3 (Negative) / S&P: BB (Negative) / Fitch: BB+ (Negative)
Format: Regulation S
Tenor: 10 years
Size: SGD Benchmark
Initial Guidance: 5.25% area
Change of Control: Change of Control put at 100%, if (1) persons other than those controlling the Guarantor as of the Closing Date, acquire >50% of Voting Rights in the Guarantor, and a Ratings Decline occurs; (2) the Guarantor consolidates with or merges into or sells or transfers all or substantially all of its assets, and a Ratings Decline occurs; (3) the adoption of a plan relating to the liquidation or dissolution of the Guarantor; or (4) the Guarantor ceases directly to own 100% of the share capital of the Issuer or adopts a plan relating to the liquidation or dissolution of the Issuer
Details: S$ 250k x S$250k / English Law / CDP / SGX Listing
Joint Bookrunners: Nomura, The Royal Bank of Scotland and Standard Chartered Bank (B&D)
Joint Lead Managers: Nomura, The Royal Bank of Scotland, Standard Chartered Bank, and SBI Capital Markets
Timing: As early as today
Netroadshow Details: http://www.netroadshow.com; Access code: Tata2013 (not case sensitive)