Jefferson County Port Authority to extend loan to JSW Ohio
JSW Steel announced that Jefferson County Port Authority, a port authority and a body corporate and politic organized and existing under the laws of the State of Ohio (Port Authority) has issued special, limited obligations bonds (the Bonds), the proceeds of which will be utilised for extending a loan (the Loan) to JSW Steel USA Ohio, Inc., incorporated under the laws of Ohio (the JSW Ohio), a wholly owned indirect subsidiary of JSW Steel (the Company).The Bonds issued are for an aggregate principal amount of $40,000,000 and have a coupon of 3.50% with a tenor of more than 30 years (maturity date of 01 December 2051).
The Company will provide a guarantee on behalf of JSW Ohio, which will be utilised to secure the repayment of the Bonds.
Moody's have assigned a rating of Ba2 to the Bonds.
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