JSW to raise $1 bn from overseas, domestic markets to retire debt

The company has also agreed to acquire Bhushan Power and Steel for Rs 19,700 crore and has kept the funds ready for the acquisition

Sajjan Jindal-owned JSW Steel is raising close to a $1 billion from both overseas and local investors by selling new bonds.

While $500 million will be raised from foreign investors, the company will raise $540 million (Rs 4,000 crore) from local investors. The company has hired Deutsche Bank, Citibank, Standard Chartered Bank and Credit Suisse to manage the foreign bond issue, said a source. 

JSW Steel will use the proceeds to retire its older debt and for other general corporate purposes. The company has also agreed to acquire Bhushan Power and Steel for Rs 19,700 crore and has kept the