Soda ash manufacturer Tata Chemicals Europe (formerly Brunner Mond), has completed a £150M refinancing from a banking syndicate led by Yorkshire Bank. Tata Chemicals Europe, based in Northwich, Cheshire, is one of Europe's leading producers of soda ash, which is used in the manufacture of glass, detergents and chemicals. It also makes sodium bicarbonate of use in the pharmaceutical, baking and medical sectors. The new facilities include a debt package put together to support Tata's acquisition of British Salt in December 2010 in a £93M deal. British Salt produces around half of the UK's pure salt at its facility in Middlewich, Cheshire. Yorkshire Bank's team was led by Peter Keighley, a director in Manchester. The consortium included Standard Chartered; Credit Agricole; ICIC Bank; and Singapore's DBS Bank. Mr Keighley said: "Tata's acquisition of British Salt offers strong benefits for both businesses and new opportunities with customers around the world. The funding packaging will provide ongoing support of the acquisition and help to finance its continuing growth."
