Debt financing
UK-based battery unit of Tata Group Agratas ups loan size to 1.15 B pounds
UK-based Agratas , the battery unit of Tata Group, will draw GBP 1.15 Billion in loans from a banking consortium, marking a 53% increase from the previously agreed GBP 750 million. Lenders have extended the repayment deadline for the loan to September 2027, with an option to further extend the facility to March 2028. This additional funding follows a GBP 380 million grant secured by the company from the UK government in April.The company, which is the UK subsidiary of Agratas Energy Storage Solutions, intends to use the new funds to finance construction projects and ongoing research and development in battery chemistries.
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