Tata Steel in talks to raise up to $400 million in offshore green loan

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Indias Tata Steel Ltd. is in talks to raise as much as $400 million, according to people familiar with the matter, in what could become the companys first green loan..

The debt could have a tenor of about five years and the proceeds would be used for capital expenditure, said the people, who declined to be named because the matter is private..

Tata Steel lags its peers on several environmental metrics, including greenhouse gas emissions, air quality, and water and waste management, according to data compiled by Bloomberg..

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Tata Steel in talks to raise up to $400m in offshore green loan

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The debt could have a tenor of about five years and the proceeds would be used for capital expenditure, said the people, who declined to be named because the matter is private. The lenders include Bank of America Corp., HSBC Holdings Plc, JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group Inc.

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