Tata To Issue Bonds This Month For JLR
Tata To Issue Bonds This Month For JLR
Tata Motors Indias largest commercial vehicle maker may issue bonds to raise Rs 5000 crore to refinance the remaining 2 billion bridge loan it took to acquire Jaguar and Land Rover. The rest of the amount is expected to come by way of rupee and dollardenominated term loans. According to the insiders State Bank of India SBI along with several other banks was providing a guarantee. A banker connected with the development confirmed that the bonds would be issued this month. The sources also adds SBI Caps was in talks with institutional players like Life Insurance Corporation of India as potential buyers. Bankers said the bonds would have a maturity ranging between two and seven years. When contacted Tata Motors spokesman told that Tata Motors would not like to comment on the news. A banker informed that half of the repayment requirement will be done through the bond issue the rest of the amount is expected to come by way of rupee and dollardenominated term loans. The remaining amount is due for repayment on June 1. Initially the company intended to raise funds through an overseas equity issue and sale of more of companys investments but the plans did not work as was expected on account of adverse market conditions. This forced Tata Motors to seek refinancing from its lenders to whom it had sent a term sheet last month and was negotiating the interest rate. Meanwhile the plans have been reworked now with a great part of it coming by way of bonds. Though the Libor has eased credit spreads continue to be high making overseas fund raising difficult for Indian companies. Citigroup and JP Morgan were the lead managers to the 3 billion loan which was raised with the help of other banks such as SBI Standard Chartered BNP Paribas and Tokyo Mitsubishi UFH.
Meanwhile the Tata group which bought JLR for about 2.3 billion in 2008 has been negotiating with the UK government for a guarantee on a 175million 263 million fund infusion that will enable the luxury carmaker to counter the ongoing slowdown. Tata Motors had raised a total of 3 billion last year for funding the Jaguar Land Rover deal. It has repaid 1 billion partly through funds raised from a rights issue. Tata Motors will have to refinance 2 billion bridge loan by June. Although the Tatas had asked the UK government for providing guarantee for about 340 million 510 million from the European Investment Bank the UK government reportedly said it would provide guarantee for only 175 million. Tata is among the leaders who launched economical cars in India.
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Tata Nano Features
Tata Nano Features
It is promised by Ratan Tata that Tata Nano will meet all current safety norms and all emission criteria the pollution being lower than two wheelers. The car is smaller than a Maruthi 800 currently available in India but the Tata Nano manufacturers claim that it will have 21 percent more volume of space inside than the 800 .The dealer price of the car is proposed at one lakh rupees 2500 sans value added tax and transport charges.
The dashboard of the car has just a speedometer fuel gauge and oil light without a reclining seat or a radio and it has basic shock absorbers. The Tata Nano contains a thirtyliter fuel tank and a four speed manual gearshift. There would be three versions of Tata Nano and one would be with air conditioning without power steering. It would have a front disk and rear drum brakes. The mileage is expected to be 23 kilometer per liter claims the company.
Tata Nano is designed with the family in mind with a seating capacity of four persons and has a roomy passenger compartment with a lot of leg space and headroom. The ingress and egress are made easy with four doors with high seating position. Tata Nano has enough ground clearance with the length of 3.1 meters width of 1.5 meters and a height of 1.6 meters. It is designed in such a way that it can effortlessly maneuver on the busy roads of both cities and rural areas.
Tata Nano is sure to set a new landmark among small cars due to its monovolume design with wheels at the corners and the power train at the rear. This facilitates to combine both space and movement which is a special feature of the Tata Nano.
The car is proposed to have three versions all of them having a wide range of body colors and accessories satisfying the individual’s preferences. Tata Nano has a rear wheel drive all aluminum two cylinder of 624 cc 33 bhp multipoint fuel injection petrol engines and this would be the first time that a two cylinder petrol engine is used in a four wheeler with single balancer shaft.
Due to the lean design strategy the weight has been minimized which results in maximum performance per unit of energy consumed thereby giving high fuel efficiency. Specially designed electronic engine management system controls the performance of the car.
Tata Nano’s safety performance is above par and exceeds current regulatory requirements. Since the body of the car is fully made of metal it has a strong passenger compartment along with safety features like crumple zones intrusion resistant doors seat belts strong seats and anchorages and the rear tail gate glass bonded to the body. The safety is further enhanced by tubeless tires.
Tata Nano’s tailpipe performance ensures a lower pollution level than a twowheeler. Also the high fuel efficiency ensures that the car has a low carbondioxide emission and therefore gives the twin benefits of affordable transportation and a low pollution.
Tata Nano undoubtedly signifies a pioneer in the global automobile industry since it realizes the dream of the common man affording a fourwheeler and is aptly called the people’s car!
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Tata Nano
Tata Nano
With an aim to bring the joy of riding to millions of Indians Tata Motors India Ltd. unveiled world’s cheapest car Nano at the Delhi Auto Show held in January 2008. The company revealed that the car has been designed to match the requirements of middleclass Indian families who aspire to possess mobility enhanced status and rise in selfesteem and want to pay a small price for their vehicle. Tata Nano has set a trend in the automobile industry of India debuting a manufacturing era of low cost and ecofriendly automobiles.
Speaking at a Press Conference the Chairman of Tata Sons and Tata Motors Mr. Ratan N. Tata said The Nano represents the spirit of breaking conventional barriers. From the drawing board to its commercial launch the concept development and productionisation of the car has overcome several challenges. It is to the credit of the team at Tata Motors that a car once thought impossible by the world is now a reality. I hope it will provide safe affordable fourwheel transportation to families who till now have not been able to own a car. We are delighted in presenting the Tata Nano to India and the world.
Under the hood of the small car lies a powerful 643 cc petrol engine which is supposed to churn out a power of 33 PS. The engine is equipped with Multi Point Fuel Injection system. It is for the first time that a car has been powered by a twocylinder gasoline engine with a single balancer shaft. Tata Nano promises to deliver a top speed of 90 km/hour and good fuel economy.
Tata Nano has been designed by keeping in mind the typical small Indian family. With monovolume design wheels at the corners and powertrain at the rear the small car is surely going to set a new benchmark for mini cars. The supercompact car has roomy interiors spacious enough to provide a comfortable ride for a family of four.
The sizeable passenger compartment of Tata Nano provides generous legroom. The fourdoor vehicle with high seating position enables easy entry and exit for its occupants. Although the cabin has minimalist equipments it looks quiet elegant and spacious. Speedometer fuel gauge and oil light are integrated into a simple but smart looking dashboard.
The adequate ground clearance of Tata Nano enables effortless maneuver through the busy Indian roads both in rural and urban areas.
Tata Nano comes equipped with all the safety norms that a compact car is expected to have. It has a strong passenger compartment with crumple zones intrusionresistant doors seat belts strong cushioned seats and anchorages which provide adequate safety to the occupants. The rear tailgate glass is bonded to the body. Further enhancing the safety are its tubeless tyres.
Tata Nano comes in two variants standard and luxury. The price of the worlds cheapest car is expected to be approximately Rs. 1 lakh. The standard variant of Tata Nano are available in Racing Red Lime Yellow Ivory White and Ink Blue colors while the luxury versions come in Lunar Silver Lava Grey Lagoon Blue Ivory White and Apple Green colors.
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