New Issue-India's TELCO securitisation issue may open Fri

Newswire

BOMBAY, April 23 (Reuters) - India's largest truck maker, Tata Engineering and Locomotive Company Ltd, plans to raise 930 million rupees by securitising some receivables from its hire-purchase schemes for trucks and buses, debt dealers said. The issue, which is likely to open on April 25 and close on April 28, has two series, they said on Wednesday. The receivables under the first series have a door-to-door maturity of 10.7 months and an average maturity of 6.2 months. The asset-backed ...

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