Reuters reported that the USD 250 million multi tranche term loan for Bhushan Steel Ltd has been signed.

According to sources, the loan comprises 3 tranches an USD 83 million tranche A with an average life of 5.5 years, an USD 83 million tranche B with an average life of 6.5 years and an USD 84 million tranche C with an average life of 7.5 years.

On tranche A, sole mandated lead arranger and bookrunner State Bank of India held USD 58 million, while Union Bank of India joined with USD 25 million.

On tranche B, SBI held USD 68 million, while SBI International Ltd took USD 15 million. SBI took the whole of the USD 84 million tranche C.

Source - Reuters

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