Tata Steel raises $2.08 billion via debt; Luthra advises
Bar&Bench News Network
May 13, 2010
The world’s eighth largest steel manufacturer, Tata Steel, has successfully raised a debt of $ 2.08 billion (Rs. 9,061 crore) from a consortium of 22 banks led by the State Bank of India, to finance its expansion plans at its Jameshdpur plant.
Luthra & Luthra Law Offices advised the consortium of banks that included HDFC, ICICI and Axis Bank. Tata was advised by its in-house counsel. Luthra’s team was led by Mumbai-based Partner Vijaya Rao and Aviation Law Partner, Aniket Sengupta. They were assisted by associates Rohit Raghavan and Karan Mitroo.
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