BANKING: 2 lenders in $3-billion loan to Tata

Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ plan to take part in a syndicated loan to Tata Motors Ltd. to finance its acquisition of the Jaguar and Land Rover brands from Ford Motor Co., sources said.

The two banks, which have had dealings with the Indian automaker, are expected to lend up to $400 million (about 40 billion yen) each, the sources said.

The planned loans will be the largest that domestic banks have extended to an Indian company.

Tata Motors will borrow about $3 billion under the arrangement, which also involves six non-Japanese banks, such as the State Bank of India, Citigroup Inc. and JPMorgan Chase & Co.(IHT/Asahi: March 28,2008)