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    HomeNewsBusinessCompaniesJSW Steel raises Rs 2,000cr from LIC

    JSW Steel raises Rs 2,000cr from LIC

    The steelmaker had in September raised $400 million through a bond offering to international investors

    Prince Mathews Thomas
    October 18, 2019 / 12:48 IST

    JSW Steel has raised Rs 2,000 crore from Life Insurance Corporation (LIC) through a bond offering. The company has raised fresh funds from 10-year bonds, at a yield of 8.79 percent payable quarterly, a source told Moneycontrol. 

    The steelmaker had in September raised $400 million through a bond offering to international investors. The bonds had a term of 5.5 years and priced at a yield of 5.375 percent, sources said.

    The funds from LIC will be used to meet long-term working capital requirements, refinancing of existing debt, general corporate purpose and ongoing capital expenditure, JSW Steel said in a statement.

    Prince Mathews Thomas
    Prince Mathews Thomas heads the corporate bureau of Moneycontrol. He has been covering the business world for 16 years, having worked in The Hindu Business Line, Forbes India, Dow Jones Newswires, The Economic Times, Business Standard and The Week. A Chevening scholar, Prince has also authored The Consolidators, a book on second generation entrepreneurs.
    first published: Oct 18, 2019 10:57 am

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