Reported By:
| Edited By: |Source: Reuters |Updated: Mar 18, 2018, 02:33 AM IST
Indian utility Tata Power has upsized it 60-year bond issue to $450 million from its guidance of $300-400 million, according to a term sheet seen by Reuters on Tuesday.
The deal is Asia's second dollar-denominated corporate hybrid bond issue this year followed by Citic Pacific in early April.
It has priced the bond at 8.5%, the termsheet showed, the lower-end of its 8.50%-8.75% guidance. The bonds have a call option on the fifth year.
Deutsche Bank, Goldman Sachs and UBS are the joint bookrunners on the deal.
