Bankers cheer as Tata Steel drops plan for FRN in favour of $900m 5, 6, 7 year loan
Tata Steel has approached banks with plans to raise up to $900m in a syndicated loan, after considering a variety of options to fund its long term expansion plans. Bankers have welcomed the company's return to the syndicated loan market, saying that other options under discussion were "unrealistic".
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