Tata Communications Ltd Secures Funding From ING Groep NV And Others For C&W Bid-Reuters

Reuters reported that Tata Communications Ltd has secured bank financing ahead of an April 19 deadline to decide whether to make a bid for London-listed Cable & Wireless Worldwide, Thomson Reuters publication Basis Point reported. The size of the loan has changed from the originally intended $2 billion, but it is not clear if it has increased or decreased. Tata Communications has received underwritten commitments from five banks, Standard Chartered PLC, Australia and NewZealand Banking Group, DBS Group Holdings Ltd, ING Groep NV and State Bank of India. StanChart and Morgan Stanley are M&A advisers to Tata Communications, but Morgan Stanley is not providing funding.