Tata Chemicals’ North America unit signs up for $375 million loans

Tata Chemicals, a maker of salts, alkalies and heavy chemicals, signed loan facilities of $375 million , according to data compiled by Bloomberg.

Proceeds will be used to help refinance an $825-million facility signed in 2008, the data show. The new loans’ mandated lead arrangers were Credit Agricole, Standard Chartered, Siemens Financial Services, Bank of Baroda and State Bank of India. Lead arrangers include Bank of America, Fifth Third Bank and Bank of Nova Scotia, the data show.

The facilities include a revolving credit line of $40 million, a term loan of $135 million and another term loan of $200 million, all due February 2019, the data show. The borrowing unit was Tata Chemicals North America Inc.