Who is financing IndiaÆs largest LBO?
Sell-side advisor to Corus, Credit Suisse, becomes the lead financing bank for Tata Steel in India's largest leveraged buyout to date.
The financing package accompanying Tata Steel's $8.23 billion leveraged buyout of UK steel producer Corus is multi-faceted. The deal, which sees Tata assume some debt on the Corus balance sheet and agreed pension liabilities, comprises a $3.88 billion equity contribution from Tata Steel, a fully underwritten non-recourse debt package of $5.63 billion, and a revolving credit facility of $669 million.
The deal represents IndiaÆs largest cross-border outbound acquisition ever and also the largest leveraged buyout LBO attempted by an Indian...
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