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Last Updated : Sep 24, 2019 08:44 PM IST | Source: Moneycontrol.com

JSW Steel raises $400 million through bond issue

The funds will be used to refinance existing loans and for some other corporate needs, said a senior executive from the industry.

 
 
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JSW Steel has raised $400 million through a bond offering to international investors.

The bonds have a term of 5.5 years and priced at a yield of 5.375 percent, sources said.

The funds will be used to refinance existing loans and for some other corporate needs, said a senior executive from the industry.

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The bonds issue was rated Ba2 (positive) by Moody’s.

Joint lead managers and joint bookrunners is the bond issue were Standard Chartered Bank, ANZ, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, First Abu Dhabi Bank, ING, J.P. Morgan and Mizuho Securities.

The bond issue is part of the board-approved plan to raise up to $1 billion.

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First Published on Sep 24, 2019 08:44 pm
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