Tata Steel - Corus Acquisition Financing

Tata Steel Ltd on May 03, 2007, has announce that the refinancing of its GBP 3,620 million acquisition bridge facility and revolving credit facility with had been provided by Credit Suisse, ABN AMRO and Deutsche Bank to fund its acquisition of Corus Group plc that was completed on April 2, 2007.The refinancing is by way of non recourse Facilities totaling GBP 3,170 million (the Refinancing Facilities) which are being Arranged by a syndicate led by Citigroup, ABN AMRO and Standard Chartered Bank. This refinancing provides significant benefits and flexibility over the term of the financing to the group.The Refinancing Facility comprises a five year GBP 1670 million amortizing loan which will be syndicated by the joint book runners to relationship banks of the Company and Cows and a seven year minimally amortizing term loan of GBP 1500 million that will be syndicated to institutional investors and banks in the US, Europe and Asia. The balance amount of the acquisition bridge is being repaid by an additional equity contribution by Tata Steel / Tata Steel Asia which had been previously disclosed on April 17, 2007.