Tata Steel Netherland to refinance debt
Tata Steel‘s wholly-owned subsidiary in Netherland executed agreements to refinance its bank debt. The company raised a term-loan facility of €1.75bn from 19 banks. The raised fund indicates a reduction of €500mn compared to external debt outstanding in Tata Steel Europe, as of March 2019. The restructuring of debt will enable the standalone European business to have a more robust balance sheet.