India’s Bhushan Steel Borrows $200 Million in U.S. Dollar Loans

Bhushan Steel Ltd., an Indian steelmaker, raised $200 million in dollar-denominated loans, according to data compiled by Bloomberg.

Bhushan borrowed $100 million at 489 basis points more than the London interbank offered rate, or Libor, the data show. The loans mature on Nov. 30, 2020.

The company raised another $100 million at 330 basis points above Libor in loans maturing Nov. 30, 2016. The loans were arranged by a syndicate led by the State Bank of India.

To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net

To contact the editor responsible for this story: Will McSheehy at wmcsheehy@bloomberg.net.

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