Indian firms eye chunky loans to reduce offshore funding costs

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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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