JSW Group firms plan $300 million debt sales
The companies could tap the market in October if rates are favourable
JSW Group firms, JSW Energy and JSW Steel, are planning to raise a combined total of approximately ₹2,850 crore ($298 million) through debt sales in the October-December quarter. JSW Energy intends to raise around ₹1,500 crore by issuing up to five-year bonds, while JSW Steel might raise around ₹1,350 crore via three-year or four-year debt, according to information from two unnamed bankers.
The firms may consider tapping the market in October if prevailing interest rates are favorable, as per the bankers. JSW Energy's bonds are currently rated AA by India Ratings, and the company has outstanding bonds amounting to approximately ₹2,500 crore. JSW Steel holds an AA+ rating from ICRA and India Ratings, with outstanding bonds exceeding ₹6,100 crore.
The company last accessed the bond market over two years ago, raising ₹2,250 crore through five-year and seven-year papers at interest rates of 8.35 percent and 8.43 percent, respectively.
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Also reported by 1 other outlet
- JSW Energy, JSW Steel plan to raise $300 million through bonds in Oct-Dec business-standard.com
