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Tech Mahindra raises $120 mn in debt

Tech Mahindra raises $120 mn in debt
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First Published: Sun, Apr 19 2009. 12 02 PM IST
Updated: Sun, Apr 19 2009. 12 02 PM IST
Mumbai: Indian software services firm Tech Mahindra Ltd said late on Saturday it raised Rs6 billion ($120 million) through 10.25% non- convertible debentures.
Tech Mahindra is raising debt to fund the acquisition of a controlling stake in fraud-hit Satyam Computer Services for more than $550 million.
Reuters reported last week that the company had raised $175 million through bonds and commercial paper.
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First Published: Sun, Apr 19 2009. 12 02 PM IST