Novelis mandates 10 for $1.8bn Asia refi of US TLB

By Shruti Chaturvedi
13 Dec 2016

US based-Novelis, part of Indian company Aditya Birla Group, has lined up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.

Like the previous deal, the Asian loan features incurrence based covenants as opposed to maintenance based ones, which are prevalent in senior loans in the region, said a head of loans on the deal.

ANZ, Axis Bank, Barclays, Bank of Baroda, Citi, ICICI, ING, Kotak Mahindra Bank, ...

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