Arcelormittal Nippon Steel India seeks ~85B INR ($1B) loan from SBI, ICICI, & Axis for expansion, potentially largest local-currency loan in 2021.
Arcelormittal Nippon Steel India, a joint venture between global steel leaders, is in talks to raise around 85 billion rupees ($1bn) for expansion. The loan could be the largest local-currency loan this year, with State Bank of India, ICICI Bank, and Axis Bank potentially participating. SBI may lend over half of the loan, with a tenor longer than five years and a local interest rate benchmark. Loan details are not finalized yet.
April 22, 2024
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