Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Mumbai, Jan 10 () Tata Steel on Friday said its Netherlands subsidiary has executed agreements for the refinancing of its bank debt and has raised term-loan facilities of EUR 1.75 billion from 19 banks.
 Tata Steel Netherlands Holdings B V (TSNHBV), a 100 per cent subsidiary of Tata Steel Ltd, has raised the long-term fund.
 "This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019, enabling the standalone European business to have a more robust balance sheet, while it is also putting in significant efforts at restructuring and improving its operating performance," the company said in a statement.
 The facilities have also been contracted at favourable terms and more efficient pricing, besides extending the maturity profile relative to the existing ones, it added.
 "The new financing has more flexible terms and better pricing that will provide greater financial headroom to the business in the coming years," said Koushik Chatterjee, executive director and chief financial officer, Tata Steel.
 The Company was able to complete this financing despite all the volatility in the financial markets, demonstrating the strong confidence enjoyed by Tata Steel in the financial community, the official added.
 Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum.
 It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. NKD CS HRS

Tata Steel's Netherlands subsidiary raises Eur 1.75 bn to refinance debt

New Delhi, Apr 24 () Tata Steel on Friday said its board has approved proposal to raise up to Rs 5,000 crore through issuance of non convertible debentures (NCDs) on private placement basis.The funds will be primarily deployed towards repayment of debt and general corporate purposes."The Board of Directors at its meeting held today reviewed financing plan of the company and based on the review, approved issue of additional debt securities up to Rs 5,000 crore in the form of NCDs on private placement basis in one or more tranches (Issue)," Tata Steel Limited said in a BSE filing. It also authorized a committee of directors to determine and approve the quantum, timing and terms and conditions of the NCDs. ABI BALBAL

Tata Steel plans to raise Rs 5,000 cr via NCDs

<ul><li><keyword id="45609" type="CITY" weightage="20" keywordseo="JSW-Steel">JSW Steel</keyword> Chairman Sajjan Jindal said that they don’t see ArcelorMittal as a challenge </li><li>Tata Steel’s CFO Koushik Chatterjee also said there should be competition in the market. </li><li>SAIL chairman A K Chaudhary said that ArcelorMittal's entry will promote healthy competition. </li></ul>Presence of more companies in the market will lead to more innovations, quality and R&amp;D activities, said domestic steel players on Thursday while reacting to the entry of global steel giant ArcelorMittal in India.
 "We don't see ArcelorMittal as a challenge," JSW Steel Chairman Sajjan Jindal told on the sidelines of the ISA Steel Conclave here.
 More the number of players, more the research &amp; development (R&amp;D) activities, innovations, quality in the market, he added reacting to a question how will the ArcelorMittal's entry benefit the consumers.
 Jindal Steel and Power Chairman Naveen Jindal said, "We see its (ArcelorMittal's) entry as a positive step."
 Tata Steel Chief Financial Officer Koushik Chatterjee also said there should be competition in the market.
 Steel Authority of India Ltd (SAIL) Chairman A K Chaudhary said, "ArcelorMittal's entry will promote healthy competition in market."
 The industry looks forward to work with them in future, he added.
 Last week, the Supreme Court paved the way for ArcelorMittal's takeover of debt-ridden Essar Steel for Rs 42,000 crore and set aside the July 4 NCLAT order giving equal status to financial creditors and operational creditors.
 Following the verdict, ArcelorMittal said it expects to complete the acquisition of the debt-ridden company by the end of this year.
 Essar Steel was auctioned under the new Insolvency and Bankruptcy Code to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors. ABI HRS

Tata Steel and JSW welcome competition from ArcelorMittal after it buys Essar

<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Steel&amp;sortorder=effectivedate">Tata Steel</a> has sold its Long Products business in Europe to investment firm <a href="http://www.businessinsider.in/searchresult.cms?query=+Greybull+Capital&amp;sortorder=effectivedate">Greybull Capital</a>. India’s biggest steel manufacturer is not exiting the UK after struggling for over a decade. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=+Greybull+Capital&amp;sortorder=effectivedate">Greybull Capital</a> will take over the whole business, including assets and liabilities, and secure a <keyword id="6357455" type="EVENT" weightage="60" keywordseo="Funding">funding</keyword> package of 400 million pounds. The deal financing, provided principally by a combination of banks and <keyword id="3005006" type="UNKNOWN" weightage="80" keywordseo="Greybull-Capital">Greybull Capital</keyword> shareholders, will be available to fund working capital and future <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> in the Long Products Business. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=+Greybull+Capital&amp;sortorder=effectivedate">Greybull Capital</a> says the deal will be completed within eight weeks, and is subject to financing arrangements and cost agreements. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Steel&amp;sortorder=effectivedate">Tata Steel</a> is $4 billion in debt on its UK balance sheet. Last year the company wrote off Rs. 5000 crores related to the long products business. 
 
Image credit: Indiatimes

Tata Steel sells off Long Products business in Europe

Kolkata, Apr 14 () India Ratings (Ind-Ra) onTuesday said it has revised Tata Steel's outlook for non-convertible debentures to negative with the "risk of asubstantial deterioration in the company's credit profile"caused by the COVID-19 containment measures.The rating agency, however, considered Tata Steel tobe well-equipped to cope with the impact of the coronaviruspandemic, with free cash of close to Rs 75 billion andcommitted credit lines against a short-term debt of Rs 80billion at end-March, 2020. "A prolonged lockdown of the businesses will lead toconsiderable curtailment of demand for an extended period,thereby impacting the companys credit metrics beyond FY21,"Ind-Ra said in a note. The outlook revision reflects "the risk of asubstantial deterioration in the company's credit profilecaused by the COVID-19 containment measures, and the overallimpact of the lockdown on key end-user segments, includingconstruction, infrastructure and automobiles," the ratingagency said.The steel maker Monday said it has approved a proposalto raise up to Rs 7,000 crore through non-convertibledebentures (NCDs).Tata Steel officials earlier indicated that theoperation level at its key sites was at about 50 per centduring the lockdown.The agency expected the steel maker's "near-termprofitability to be impacted" by both fall in metal prices andreduction in capacity utilisations."Along with inventory losses due to the falling metalprices, higher competitive intensity to exhaust the inventorybuild-up could exert pressure on gross margins," the ratingfirm said. BSMBDC BDC

Ind-Ra revises Tata Steel's outlook to negative

New Delhi, May 20 () Tata Steel on Wednesday said its committee of directors has approved allotment of non-convertible debentures (NCDs) worth Rs 1,000 crore on private placement basis. "The Committee of Directors has today approved allotment of 10,000 –- 8.25 per cent unsecured, rated, listed, redeemable, NCDs of face value Rs 10,00,000 each, for cash aggregating to Rs 1,000 crore, to identified investor on private placement basis," Tata Steel said in a filing to BSE. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE , the filing said. SID SID ANU ANU

Tata Steel raises Rs 1,000 cr via NCDs

New Delhi, Apr 22 () Tata Steel on Wednesday said its committee of directors has approved allotment of non convertible debentures (NCDs) worth Rs 510 crore on private placement basis. "The committee of directors has today approved allotment of 5,100 unsecured, redeemable, rated, listed NCDs having face value of Rs 10,00,000 each for cash aggregating to Rs 510 crore, to identified investor on private placement basis," Tata Steel said in a BSE filing.The NCDs, which will carry an annual coupon rate of 7.85 per cent, are proposed to be listed on the BSE's wholesale debt market segment. ABI ANUANU

Tata Steel raises Rs 510 cr via NCDs         

New Delhi, Mar 13 () Tata Steel on Friday said its committee of directors has approved raising Rs 670 crore through issuance of debentures. "The committee of directors has today approved allotment of 6,700...unsecured, redeemable, rated, listed non-convertible debentures (NCDs) having face value of Rs 10,00,000 each for cash aggregating to Rs 670 crore, to identified investors on private placement basis," the company said in a BSE filing. The NCDs are proposed to be listed on the wholesale debt market segment of the BSE, it added. Tata Steel stock was trading at Rs 295, up 2.86 per cent, on the BSE. SID SID ANUANU

You Searched For "tata steel debt" and got 9 results

Tata Steel's Netherlands subsidiary raises Eur 1.75 bn to refinance debt

PTI

Tata Steel plans to raise Rs 5,000 cr via NCDs

PTI

Tata Steel and JSW welcome competition from ArcelorMittal after it buys Essar

PTI

Tata Steel sells off Long Products business in Europe

BI India Bureau

Ind-Ra revises Tata Steel's outlook to negative

PTI

Tata Steel raises Rs 1,000 cr via NCDs

PTI

Tata Steel raises Rs 510 cr via NCDs

PTI

Tata Steel's committee of directors approves raising Rs 670 cr via NCDs

PTI

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

Bhakti Makwana

Popular Keywords

Buying Guides