The Reserve Bank of India (RBI) has issued a letter informing commercial banks in the country that they are not permitted to guarantee debt instruments, following the controversy surrounding Tata’s issuance of bonds backed by State Bank of India.
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bridge loan Tata Motors took out to buy Jaguar and Land Rover |
On May 21, Citi and Tata Capital joint-led a four-tranche rupee deal for a total equivalent value of $840 million, thereby completing the refinancing of the $3 billion bridge loan that Tata Motors had taken out to buy Jaguar and Land Rover.
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