Tata Steel, Birla Carbon eschew syndications

By Pan Yue
10 Mar 2020

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

Tata Steel has signed a €1.75bn dual-tranche loan, with tenors of five year and seven year, through its Dutch business unit, Tata Steel Netherlands Holdings. Birla Carbon, a carbon black additives supplier, is raising a $1.5bn facility with three, five and seven year tenors for refinancing.

Both ...

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