Tata Motors Limited - Tender Offer - Settlement

Settlement of the Tender Offer pursuant to the Issuer's invitation to the holders of its outstanding U.S.$250,000,000 5.75 per cent. senior notes due 2024 (ISIN: XS1121908211) (the “Notes”) to tender their Notes for purchase for cash an aggregate principal amount of up to the Maximum Purchase Amount

16 JUNE 2023

Full announcement including disclaimers and offer restrictions available via SGX

"Reference is made to the Issuer’s announcement dated 31 May 2023 (the “31 May Announcement”) and the announcement dated 12 June 2023 (the “12 June Announcement”) in relation to the Tender Offer made by the Issuer in respect of the Notes. Unless otherwise defined herein, all capitalized terms used in this announcement shall have the meanings given to them in the 31 May Announcement and the 12 June Announcement.

The Issuer wishes to confirm and announce that the conditions set forth in the Tender Offer Memorandum have been satisfied and the settlement of the Tender Offer was completed on 16 June 2023. The Issuer has also authorised Citicorp International Limited, to take such steps as are required to cancel the purchased Notes on its behalf, such cancellation to take effect for value on 16 June 2023. Following the completion of the Tender Offer and the cancellation of the purchased Notes, the outstanding aggregate principal amount of the Notes will be U.S.$138,057,000."

...

---

Announcement of Results of the Tender Offer pursuant to the Issuer's invitation to the holders of its outstanding U.S.$250,000,000 5.75 per cent. senior notes due 2024 (ISIN: XS1121908211) (the “Notes”) to tender their Notes for purchase for cash an aggregate principal amount of up to the Maximum Purchase Amount

12 JUNE 2023

Full announcement including disclaimers and offer restrictions available via SGX

...

"Final Results of the Offer

The Tender Offer expired at 4:00 p.m. (London time) on 9 June 2023.

As of the Expiration Deadline, the Issuer had received valid tenders under the Tender Offer which had not been validly withdrawn in respect of the Notes with an aggregate principal amount outstanding of U.S.$111,943,000 representing approximately 44.8 per cent. of the total principal amount outstanding of the Notes, as per the information provided by the tender and information agent, Kroll Issuer Services Limited.

Subject to the satisfaction of the conditions set forth in the Tender Offer Memorandum, the Issuer shall accept for purchase all Notes validly tendered pursuant to the Offer, in the aggregate principal amount of U.S.$111,943,000.

Consideration Payable

The consideration payable by the Issuer for the Notes tendered and accepted for purchase will consist of, with respect to each U.S.$1,000 of principal amount of the Notes, (1) cash in the amount of U.S.$1,005 plus (2) the Accrued Interest Payment.

Settlement and Notes Remaining Outstanding

Subject to the satisfaction of the conditions set forth in the Tender Offer Memorandum, the Settlement Date in respect of the Notes accepted for purchase pursuant to the Tender Offer is expected to be 16 June 2023.

Following settlement of the Tender Offer and subsequent cancellation of the repurchased Notes, the aggregate principal amount of the Notes that will remain outstanding after the Settlement Date is expected to be U.S.$138,057,000."

...

---

Tata Motors Limited announces Tender Offer in respect of its U.S.$250,000,000 5.75 per cent. senior notes due 2024 (ISIN: XS1121908211)

31 MAY 2023

Full announcement including disclaimers and offer restrictions available via SGX

"31 May 2023. Tata Motors Limited (the “Issuer”) announces today an invitation to eligible holders of its outstanding U.S.$250,000,000 5.75 per cent. senior notes due 2024 (ISIN: XS1121908211) (the “Notes”) to tender for purchase by the Issuer for cash an aggregate principal amount of up to U.S.$125,000,000 (as such amount may be changed by the Issuer in its sole discretion) (the “Maximum Purchase Amount”) (the “Tender Offer” or the “Offer”)."

...

...

"Rationale for the Tender Offer

The rationale for the Offer is, among other objectives, for gross debt reduction and management of the Issuer’s debt maturity profile."