Tata Steel signs ECB Agreement

Kolkata, Mar 7: Tata Steel has signed an external commercial borrowing agreement of 0 million (Japanese Yen equivalent of US$ 495 million and US$ 5 million) at Singapore for funding its growth projects and acquisitions.

The syndicated term loan facility was for 0 million (or its equivalent in JPY) with a greenshoe option of further 0 million (or its equivalent in JPY), according to a company release here today (Mar 7, 2006).

Seventeen Banks across various geographies participated in the syndicated term loan facility.

The issue was oversubscribed and the company exercised the greenshow option.

The loan has a door-to-door maturity of seven years.

The coupon of the loan will be Libor plus 45 basis points.

UNI