ICICI Bank Extends Rs 2,675 Cr Debt Facility To Tata Steel: Report
Private sector lender ICICI Bank has provided Tata Steel with a debt facility worth Rs 2,675 crore, according to a media house on 8 April. This facility is set for a term of three years and is intended for repaying Tata Steel's existing debt.
The report further stated that documents filed with the National Securities Depository revealed that Tata Steel has raised Rs 2,700 crore through unsecured fixed-rate bonds at an interest rate of 7.79 per cent. These documents outlined that Tata Steel is slated to make a bullet payment to investors on 27 March 2027.
On the stock market, ICICI Bank's shares were trading at Rs 1,085 each on the BSE, marking a 0.24 per cent increase. Meanwhile, Tata Steel's shares were trading at Rs 164.85 each on the BSE, showing a 0.92 per cent rise.
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