Tata Steel Ltd. has sounded out banks about raising the equivalent of $5.1 billion through loan facilities and a bond issue to help refinance debt, according to people familiar with the matter.

The Indian steelmaker plans a $2.15 billion six-year syndicated facility to refinance loans in the books of units, TS Global Holdings Pte. and NatSteel Asia Pte., said the people, who are not authorized to speak publicly and asked not to be identified. Tata Steel’s spokesman declined to comment on the planned financing.

The new borrowing will mark Tata Steel’s return to the international loan markets for the first time since the middle of 2016 as it sharpens its focus on the Indian market after selling unprofitable assets in the U.K. The company said last week it plans to raise as much as 128 billion rupees ($2 billion) in a rights offer to add capacity in India as well as to repay debt.

A separate 2.5 billion-euro borrowing is planned to refinance debt remaining after the transfer of Tata Steel Europe Ltd.’s existing obligations into its proposed joint venturewith Germany’s Thyssenkrupp AG. The new fundraising will be backed by a letter of comfort from Tata Steel.