Bank trio extends export finance facility to Bhushan Steel

Singapore-based bank DBS, multi-regional bank Standard Chartered and DZ Bank, the fifth largest bank in Germany, have announced the closure of an export finance facility worth $258 million with Bhushan Steel. Under the terms of the facility, which has been backed by German export credit agency Euler-Hermes AG, the agency will provide a guarantee covering 95% of the political and commercial risks related to the loan facility.

We are extremely pleased with the export finance facility arranged by Standard Chartered Bank, DBS Bank and DZ Bank AG,” said Nittin Johari, director of finance at Bhushan Steel, in a statement. “The excellent coordination and timely execution in completing...