Bank trio extends export finance facility to Bhushan Steel

DBS, Standard Chartered and DZ Bank announce a $258 million export finance facility to the Indian steel manufacturer.

Singapore-based bank DBS, multi-regional bank Standard Chartered and DZ Bank, the fifth largest bank in Germany, have announced the closure of an export finance facility worth $258 million with Bhushan Steel. Under the terms of the facility, which has been backed by German export credit agency Euler-Hermes AG, the agency will provide a guarantee covering 95% of the political and commercial risks related to the loan facility.

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