OREANDA-NEWS. April 19, 2011. Tata Power, India’s largest integrated private power player, has appointed Deutsche Bank, Goldman Sachs and UBS as joint bookrunners for a 60-year non-callable for five years Reg S hybrid capital offering of USD 300 million to USD 400 million, with final size to be determined by market demand and proposed to be undertaken through a wholly owned overseas subsidiary of Tata Power. The aforesaid offering is proposed to be guaranteed by Tata Power. The terms of the transaction will be announced shortly.

The company plans to expand its generation capacity through new power projects or acquisitions in the coming years. These funds could be utilised to secure further long-term coal supplies by investing in coal mines or assets outside India as well as for repayment of the existing loans.

S Ramakrishnan, executive director, finance, Tata Power, said, "This long-term financing enhances our ability to achieve our strategic goals of securing sustainable sources of supply for our rapidly growing power generation base.”

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