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JSW Steel Raises INR 2,000 crore From LIC

Steel News - Published on Tue, 22 Oct 2019

Image Source: moneycontrol.com
JSW Steel has raised INR 2,000 crore from Life Insurance Corporation through a bond offering. The company has raised fresh funds from 10 year bonds, at a yield of 8.79% payable quarterly. JSW Steel said that the funds from LIC will be used to meet long-term working capital requirements, refinancing of existing debt, general corporate purpose and ongoing capital expenditure.

ParticularsTerms
IssuerJSW Steel Limited
Instrument8.79% Rated, listed, secured, redeemable, non-convertible debentures bearing a face value of INR 10,00,000
Issue sizeINR 2000,00,00,000
Tenor10 years from deemed date of allotment
Coupon Rate8.79% p.a. (Eight-point seven Nine percent) payable quarterly in arrears.
Use of ProceedsMeeting long-term working capital requirements, refinancing of existing debt, general corporate purpose and ongoing capital expenditure
 

Source :

Posted By : Rabi Wangkhem on Tue, 22 Oct 2019
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