Tata Sons to raise $500mn is offshore loan

Tata SonsWillseek $500 million in offshore borrowings.

backed by bank of America, SMBC Japan, and Standard Chartered Bank

as the business rolls over debt

used to pay Tata Teleservice  some years ago.

The loan agreement ehose term will probably be five years.

is anticipated to be finalised in the upxoming weeks.

the price will probably be IIO 120 basic points.

more then the Secured Overnight Financing Rate.