Indian firms eye chunky loans to reduce offshore funding costs

By Pan Yue
02 Aug 2018

Indian companies are seeking chunky loans this year, with Tata Steel and Reliance Industries looking for $3.1bn and $2.7bn respectively. Bankers, who say Indian borrowers are still able to enjoy attractive pricing, expect more companies to take the opportunity for a cheaper refinancing. Pan Yue reports.

Tata Steel is making a quick comeback with a large refinancing loan. The company is in talks with a group of banks, mainly Indian lenders, as bookrunners for a $3.1bn deal with a tenor of between two and five years, according to a banker close to the situation.


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