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Market Chatter: Tata Power Eyes $450 Million Overseas Loan

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Tata Power (NSE:TATAPOWER, BOM:500400) is eyeing a five-year loan worth at least $450 million overseas, Bloomberg reported Tuesday citing people familiar with the matter.

The power company is currently in early-stage negotiations with banks for the loan, which will be used for its business operations, according to the report.

The company will secure the loan with shares it holds in Indonesian and Singaporean units, the people said.

Tata Power is reportedly "evaluating all financing options including ECB loans in order to optimize cost of debt and based on the end use," Bloomberg said citing Chief Financial

Officer Sanjeev Churiwala.

The company isn't currently considering ECB loans to raise $450 million, Churiwala clarified.

Tata Power did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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