At least three lenders including State Bank of India, ICICI Bank Ltd. and Axis Bank Ltd. would be participating in the syndicated deal, with proceeds to be used for capital expenditure, said the people who asked not to be identified for discussing private information.
Arcelormittal Nippon Steel India Ltd., a joint venture between two global steel giants, is in discussions with banks to raise approximately 85 billion rupees (USD 1 billion), possibly the largest local-currency loan this year. Key lenders like State Bank of India, ICICI Bank Ltd., and Axis Bank Ltd. are expected to participate in the syndicated deal, earmarked for capital expenditure. The loan may extend over five years and be linked to a local interest rate benchmark.
Report by Kahnu Nanda, Jagatsinghpur: The Rehabilitation and Periphery Development Advisory Committee [RPDAC] meeting for Arceller Mittal and Nippon Steel India Ltd [AM/NS] proposed steel project in Paradeep was held in Sadbhabana Sabha Gruha here on