Tata Steel UK to raise £200 m from a consortium of banks

The loan is marked as revolving credit facility (RCF), and the syndication agreement was signed last week. . The loan — denominated in pound sterling — has likely been priced at 175 basis points (1.75 percentage points) higher than the Libor, a global rate gauge. An RCF offers more flexibility than a term loan. It enables a company to draw the credit, use it to fund its business, repay it, and then withdraw it again whenever it requires.

via Economictimes