Tata Steel wraps up jumbo refinancing

Indian steel giant Tata Steel wraps up jumbo $3.1 billion refinancing with 34 lenders, giving it breathing room.

Tata Steel wraps up jumbo refinancing

Tata Steel, the Indian steel group, has wrapped up its $3.1 billion multi-currency loan facility, attracting a total of 34  lenders and giving it some breathing room as the company struggles with a slump in the demand for steel in Europe.

The company operates in the highly cyclical steel industry and was faced with covenants tightening in 2015. Its refinancing package enables it to push out its debt maturity profile and gives it more...

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