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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World India's Tata Steel may seek $5.4-bln loan: report AFP - Sunday, September 5 Send IM Story Print India's Tata Steel may seek $5.4-bln loan: report Slideshow: Full Photo Coverage: Business & Economy NEW DELHI (AFP) - – The world's seventh-largest steelmaker, Tata Steel, is in talks with banks for a 5.4-billion-dollar loan for its British unit Corus, a report said Saturday. The Economic Times newspaper said BNP Paribas, HSBC Holdings and Royal Bank of Scotland may be among the banks contributing funds for the 3.5-billion-pound (5.4-billion-dollar) loan. The report noted that Tata Steel chief financial officer Koushik Chatterjee said last month that the Mumbai-based steelmaker planned to refinance as much as 6.5 billion dollars of its long-term debt. Tata Steel took loans to fund its 13-billion-dollar acquisition of Anglo-Dutch steelmaker Corus in 2007, just before the global financial crisis hit demand for steel. There was no immediate company comment on the report, which cited unidentified sources with direct knowledge of the matter. In August the company posted a consolidated net profit for the three months to June of 18.25 billion rupees (388 million dollars) against a loss of 22.08 billion rupees a year earlier. Tata Steel, whose shares have fallen 13 percent this year, issued a cautious outlook with its results, saying the long-term sustainability of its recovery was "highly dependent on future growth in the European construction sector." Recommend Send IM Story Print Related Articles Obama says his economic policies halted "bleeding" Reuters - 2 hours 23 minutes ago India's Tata Steel may seek $5.4-bln loan: report AFP - Sunday, September 5 FEATURE-Cargo ship embarks on historic Arctic passage Reuters - Sunday, September 5 Two dead in fresh clash over rebel Caucasus region Reuters - Sunday, September 5 Afghans crowd scandal-hit bank to withdraw savings AFP - Sunday, September 5 News Search Top Stories EU deal to curb speculative trading close: commissioner EU decision on support for banks due November: commissioner Afghans crowd scandal-hit bank to withdraw savings BP spill costs hit 8 bln dlrs as crews unearth clues Petrobras sells 64 bln dlrs of stock to fund oil search More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Zeta-Jones 'furious' at late cancer diagnosis for Douglas BP spill costs hit 8 bln dlrs as crews unearth clues Israeli researchers develop promising new HIV treatment 'Prostitute' Carla Bruni deserves death: Iran media Fidel Castro leads first mass rally in four years More Most Viewed » Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal Most US students think Beethoven is a dog Unchecked migration would see Singapore swell, Haiti halve More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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