London—Dentons has advised Swiss-based Duferco SA and its parent company, Duferco International Trading Holdings SA (DITH), on its $700 million prepayment arrangement with Indian steel producer JSW Steel Limited for steel deliveries, and the financing of this through a limited recourse facility.

The agreement, which is the largest trade finance facility to have been arranged for an Indian steel company, will ensure a consistent supply of steel from JSW Steel Limited to the DITH Group, the largest independent steel trader in the world, over the next five years.

The bank syndicate included Natixis (as documentation bank), ING (as facility and security agent), Citibank, Credit Suisse, Société Générale, Standard Chartered, BNP Paribas and Mashreq Bank.

Celia Gardiner, Dentons' UK Structured Commodities Finance partner, who led on the matter, said, "We are delighted to have advised DITH on this prestigious deal with one of the leading Indian steel groups, JSW Steel Limited, helping to provide DITH with an additional, sustainable and long term trade flow over the next half decade."

Rebecca Urry, London-based senior associate in Dentons' Asset Finance team, also advised.

About Dentons

Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you. www.dentons.com