{"id":117576,"date":"2019-04-04T23:30:18","date_gmt":"2019-04-04T23:30:18","guid":{"rendered":"https:\/\/www.bnreport.com\/jsw-steel-likely-to-raise-500-million-via-dollar-bonds\/"},"modified":"2019-04-04T23:30:18","modified_gmt":"2019-04-04T23:30:18","slug":"jsw-steel-likely-to-raise-500-million-via-dollar-bonds","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/jsw-steel-likely-to-raise-500-million-via-dollar-bonds\/","title":{"rendered":"JSW Steel likely to raise $500 million via dollar bonds"},"content":{"rendered":"

MUMBAI: JSW Steel<\/a>, India's biggest maker of the alloy, is set to raise $500 million by selling dollar bonds<\/a>, ending a year-long wait for garnering debt funds overseas. <\/p>\n

The company would use the proceeds to expand production capacity at its Vijayanagar plant<\/a> in Karnataka, said two people with direct knowledge of the financing plans. <\/p>\n

The bonds may be of five-year maturity, and investors outside the US can invest in those debt securities. The company is likely to make a formal announcement soon. <\/p>\n

\u201cThe company is expected to begin roadshows in Singapore, Hong Kong and other parts of the world early next week,\u201d one of the persons cited above told ET. <\/p>\n

JSW Steel declined to comment on the matter. <\/p>\n

First Abhu Dhabi Bank<\/a>, BNP<\/a>, Citi<\/a>, JP Morgan, and Standard Chartered are among the lenders helping the company raise the funds. <\/p>\n

Such bonds, marked as \u201chigh-yield\u201d, should be priced between 5% and 5.5%, dealers said. International rating companies Fitch and Moodys have rated the company BB and Ba2, respectively, one notch below the investment grade, with stable and positive outlook. <\/p>\n

JSW Steel has a total debt of about Rs 46,000 crore as on December 31, 2018. <\/p>\n

Read More \u2013 Source<\/strong><\/a><\/p>\n

[contf]
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ET Markets<\/a><\/h5>\n

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\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

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