Tata Steel is preparing a Rs 115 billion ($1.7 billion) loan to help fund itspurchase of assets from Bhushan Steel, people familiar with the matter said.
The producer is in talks with banks about a six-month bridge facility, which it aims to refinance with a loan that would mature in about 15 years, according to the people, who asked not to be identified because the matter is private.
The acquisition would help Mumbai-based Tata in its goal to double production in five years, as it also plans further expansion at its Kalinganagar plant.
The new facility would
The producer is in talks with banks about a six-month bridge facility, which it aims to refinance with a loan that would mature in about 15 years, according to the people, who asked not to be identified because the matter is private.
The acquisition would help Mumbai-based Tata in its goal to double production in five years, as it also plans further expansion at its Kalinganagar plant.
The new facility would