JSW Steel raises $1 billion via bonds issuance in overseas market

The company says it is the first in the steel sector globally to issue an SLB in a hard currency

JSW Steel has raised $1 billion through the issuance of sustainability-linked bonds (SLBs) in the overseas market.

The company said that it had “created history” by being the first company in the steel sector globally to issue an SLB in a hard currency. A statement said that it had raised a total of $1Billion in the USD bond markets through a RegS/144A issuance, which was subscribed by high quality institutional investors across Asia, Middle East, Europe and the US.

Seshagiri Rao, joint managing director and group CFO, JSW Steel, said that the overwhelming response received on the SLB issuance was