Tata Chemicals to raise $850 mn debt to fund US buy
The Economic Times — March 25, 2008

Tata Chemicals Ltd will raise $850 million through debt to fund its acquisition of US soda-ash maker General Chemical Industrial Products, its managing director said on Tuesday.

"The finances have been tied up. The regulatory approval is expected in a another couple of days," Homi Khusrokhan told reporters on the sidelines of an industry conference.

The details of the debt will be given after the deal closure, he added. In January, it bought the US firm for $1 billion, giving it acess to low-cost natural soda ash reserves and a presence in the North American market.