Tata Steel Limited Regulatory News (TTST)

Tata Steel's wholly owned Singapore incorporated subsidiary executes agreements worth US$1.5 billion for refinancing of its debt

Mumbai, December 2, 2015: T S Global Holdings Pte Ltd. ("TSGH"), a subsidiary of Tata Steel Limited incorporated in Singapore, has executed agreements today for loan facilities of US$1.5 billion comprising a 5 year loan of US$750 million and a 6 year loan of US$750 million. The proceeds of this loan will be used to repay existing term loan facilities in TSGH.

The loan facilities have been contracted with a group of 16 Mandated Lead Arrangers: Australia and New Zealand Banking Group Ltd, Axis Bank Limited, Bank of America N.A., Bank of Tokyo-Mitsubishi UFJ Ltd., BNP Paribas, Citigroup Global Markets Asia Ltd., Credit Agricole Corporate and Investment Bank, Deutsche Bank AG, Emirates NBD Capital Ltd., First Gulf Bank FJSC, HDFC Bank, ICICI Bank, National Bank of Abu Dhabi PJSC, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation.

Koushik Chatterjee, Tata Steel Limited's Group Executive Director (Finance and Corporate), said: "Tata Steel actively reviews all its financing options and seeks to continuously optimise its debt based on market conditions. The new loan facilities provide significantly greater flexibility in their terms and conditions and provide savings in cost, besides extension of tenor. This will provide greater financial headroom for the business, as it faces tough market conditions, even as overall leverage and debt remain unaffected. I would also like to take this opportunity to thank our banking partners for their continued belief in and support of the Tata Steel Group."

About Tata Steel

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top global steel companies with an annual crude steel capacity of nearly 30 million tonnes per annum (MnTPA). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 22.32 billion in FY`15, has over 80,000 employees across five continents and is a Fortune 500 Company.

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