Tata Steel Ltd.

Tata Steel is in discussions with 11 banks to raise loans worth 3.5 billion pounds (over Rs 25,000 crore) for its UK unit as it plans to refinance as much as $6.5 billion of long-term debt.

BNP Paribas SA, Credit Agricole CIB, HSBC Holdings Plc and Royal Bank of Scotland Group Plc are among the banks that may lend 2.5 billion pounds over a period of five years. State Bank of India may arrange a 1 billion pound loan over a period of seven years.