Tata Steel may raise $400 million via green loan

19 Apr 2023 , 09:09 AM

According to news reports, Tata Steel Ltd. Is considering the possibility to raise up to $400 million through green loan. This would be the company’s first green loan.

The report by Bloomberg stated that the debt might have a tenor of around five years and that the proceeds would be utilized for capital investment. Bank of America Corp., HSBC Holdings Plc, JPMorgan Chase & Co., and Mitsubishi UFJ Financial Group Inc. are some of the lenders.

According to the report, no decision has been made in stone yet, and specifics may yet alter. According to information collated by Bloomberg, this would be Tata Steel’s first green loan.

Steel production is highly capital-intensive and the industry is responsible for around 20% of all greenhouse gas emissions. According to a 2022 McKinsey Quarterly analysis, the transition to low-emissions products will cost around $4.4 trillion over the following 30 years.

For feedback and suggestions, write to us at [e-mail]