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JSW Steel raises Rs 2,000-cr via NCDs on private placement basis

According to a source, the company has raised fresh funds of around Rs 2,000 crore from 10-year bonds from LIC at 8.79 per cent payable semi-annually

Press Trust of India  |  New Delhi 

The reliefs and concessions sought by JSW were part of the committee of creditors approved resolution plan
The Sajjan Jindal-led company has allotted NCDs having a rate of 8.79 per cent, of Rs 10 lakh face value each, aggregating to Rs 2,000 crore on private placement basis, according to a regulatory filing.

JSW Steel on Friday said it has raised Rs 2,000 crore through issuance of non convertible debentures (NCDs) on private placement basis.

According to a source, the company has raised fresh funds of around Rs 2,000 crore from 10-year bonds from LIC at 8.79 per cent payable semi-annually.

The Sajjan Jindal-led company has allotted NCDs having a rate of 8.79 per cent, of Rs 10 lakh face value each, aggregating to Rs 2,000 crore on private placement basis, according to a regulatory filing.

The proceeds would be used for meeting long-term working capital requirements, refinancing existing debt, general corporate purpose and ongoing capital expenditure.

First Published: Fri, October 18 2019. 14:15 IST
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