Two months after raising Rs 15 billion from financial institutions, Tata Communications has raised Rs 2.5 billion through a bond issue, just ahead of the Wi-Max spectrum auction in January-March 2009.

Two months after raising Rs 15 billion from financial institutions, Tata Communications has raised Rs 2.5 billion through a bond issue, just ahead of the Wi-Max spectrum auction in January-March 2009. The 5.5-year bonds have a coupon rate of 11 per cent and the seven-year bonds have a coupon rate of 11.2 per cent. Earlier, in November 2008, the company had raised $310 million by way of long-term debt, which will be used for Wi-Max rollout.