Tata Electronics in talks to raise $2-B

Mumbai-based Tata Electronics , a wholly-owned subsidiary of Tata Sons, is in talks with domestic and international banks to raise USD 2-B through multiple loan tranches. The firm intends to use the capital to fund its expansion plans.The first tranche is likely to be up to USD 800 million, with initial pricing discussions around SOFR plus 180 basis points. The loan could be priced at around 6%, assuming SOFR remains at around 3.9%.