Tata Steel signed external commercial borrowing agreement of US$ 500 Million
Today, Tata Steel signed an external commercial borrowing agreement at Singapore for funding its growth projects and acquisitions.
The syndicated term loan facility was with a Greenshoe Option. 17 Banks across various geographies participated in the aforesaid syndicated term loan facility. The issue was oversubscribed and the Company exercised the Greenshoe Option. The loan has a door-to door maturity of 7 years. The coupon of the loan will be Libor plus 45 basis points.