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JSW Steel may raise funds via dollar-denominated senior notes

Press Trust of India  |  New Delhi 

Steel today said it is contemplating raising funds through issue of dollar-denominated senior notes.

"The company is contemplating issuing of debt instruments in the form of US dollar denominated senior notes, subject to market conditions," Steel said in a BSE filing.


The company said a preliminary offering circular has been prepared and shall be made available to the prospective investors in relation to the contemplated issue of notes.

"The notes will not be offered or sold in India," it added.

In May last year, the board of directors of Steel had approved to raise long-term funds through the issuance of non-convertible foreign currency/rupee-denominated senior unsecured fixed rate bonds up to USD 1 billion in one or more tranches, in the international market.

Shares of the company were trading 1.36 per cent higher at Rs 295.15 on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 10:55 IST
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