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Markets | Tata Motors buys back bonds worth $20 mn

Markets | Tata Motors buys back bonds worth $20 mn
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First Published: Tue, Apr 14 2009. 11 40 PM IST
Updated: Tue, Apr 14 2009. 11 40 PM IST
Mumbai:Tata Motors Ltd, the truck and car maker that’s seeking to refinance $2 billion (around Rs10,000 crore) of a bridge loan by June, said it bought back and extinguished foreign currency bonds worth $20 million.
Tata Motors bought back zero-coupon convertible bonds worth $17 million on 31 March to reduce dollar-denominated debt to $473 million, the company said in a filing to the Bombay Stock Exchange on Monday night. It also purchased 300 million yen ($3 million) worth of other securities, lowering the outstanding amount on such bonds to 11.5 billion yen.
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First Published: Tue, Apr 14 2009. 11 40 PM IST