Big bank chief executives often talk about how tight the margins are at the corporate end of the lending business, and yesterday mining and materials group OneSteel provided an illustration of just how tight they are.OneSteel announced the successful refinancing of its A$295 million syndicated loan. The syndicate closed oversubscribed and the company increased the size of the facility to US$330 million.The new facility has a four-year term and will maintain OneSteel's average interest rate for its total debt facilities at five per cent.The lead banks in the OneSteel syndicate are Commonwealth Bank, National Australia Bank, Westpac and Bank of Scotland. OneSteel's general manager for investor relations, Steve Ashe, said there were 12 banks in the syndicate. Ashe said there wasn't much change in the mix of foreign and local banks, despite recent talk of foreign banks pulling back from Australia.The company will now turn its attention to refinancing A$250 million worth of bilateral facilities, which mature in October 2013.