Tata Steel, Birla Carbon eschew syndications

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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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