Tata Steel refinances European bank facilities

Tata Steel has signed a £3.53bn loan to refinance a £3.67bn facility backing its buy-out of European steelmaker Corus in 2007.

  • 01 Oct 2010
Some 13 banks have committed to the loan, but the transaction will be further syndicated to the company’s relationship banks. The new deal comprises a £1.8bn-equivalent five year loan and a £1bn-equivalent seven year facility. There is also a £690m revolver that will be used for working capital. ...

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