Shortly after the acquisition of Corus in 2007, Tata Steel Ltd entered the international markets with a convertible bond offering (CARS) that had some distinct features. The offering of USD 875 Million was among the first of its kind from India. The successful issuance reflected investor...

Set in India in 2009, the case is about Tata Steel Ltd (TSL), a global top ten steel producer. TSL's launch of a convertible bond offering in exchange for its convertible alternative reference securities issued in 2007 was in response to shifts in environmental factors. An analysis of the offer...