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Tata Industries raises Rs 250 crore via corporate bonds to refinance debt

Tata Industries raises Rs 250 crore via corporate bonds to refinance debt

Finance
MUMBAI: Tata Industries, the holding company for new-age businesses at Tata Group, raised Rs 250 crore by selling corporate bonds to Birla Sunlife Mutual Fund, Aditya Birla Finance and Kotak Mutual Fund as it looks to refinance existing debt and spend on general business purposes. Tata Industries issued 2,500 nonconvertible debentures (NCDs) of the face value of Rs 10 lakh each, according to documents seen by ET. Kotak Mutual Fund and Birla Sunlife Mutual Fund subscribed to Rs 100 crore worth of NCDs each while Aditya Birla Finance subscribed to Rs 50 crore worth of NCDs. ICICI Bank was the sole arranger of the private placement. "We do not share information on such matters. Suffice it to say that, from time to time, Tata Industries raises funds as part of its ongoing activities," a Ta...
Yes, student debt is delaying homeownership

Yes, student debt is delaying homeownership

Finance
How to talk to your kid about paying for collegeCollege grads have claimed for years that they were putting off buying a home because of student debt. Now, there's strong proof that their loans really have pulled down homeownership rates. About 32% of those in their 20s owned a home in 2007, but that's fallen drastically to 21% in 2016. While the poor labor market and memories of the housing bubble certainly played a role, student debt can explain up to 35% of the decline, according to a report from the Federal Reserve Bank of New York released Thursday. If it sounds small, think of it this way: about half of Americans don't go to college and some of those who do aren't dragged down by student debt. The results suggest that the rise in college costs will result in "weaker spending and w...