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Tata Steel signs refinancing agreements

Friday, 17 October 2014 15:41:04 (GMT+3)   |   Istanbul
       
Tata Steel UK Holdings Limited, a subsidiary of India-based Tata Steel Limited, has announced that it has executed agreements for the refinancing of its bank debt through term loan and revolving credit facilities of €3.05 billion.
 
The debt was originally incurred in relation with the acquisition of Corus Group plc in 2007. The new financing structure consists of a five-year loan of €370 million, a six-year revolving credit facility for working capital purposes of £700 million, and a seven-year loan of €1.8 billion, with more favorable terms and pricing relative to the earlier debt.

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