‘You snooze, you lose’ helps Tata Steel to waiver success
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‘You snooze, you lose’ helps Tata Steel to waiver success

The structure of Tata Steel UK’s covenant waiver proposals helped the company get approval from an overwhelming majority at the end of last week, bankers said. The subsidiary of India’s Tata Steel had faced initial resistance from institutional investors after it emerged the borrower would not increase the margins as part of the deal.

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