By Wendy Van Sickle
Columbus, Ohio, April 5 – JSW Steel Ltd.’s board of directors approved the issuance and pricing of $500 million of 5¼% five-year senior notes (Ba3//BB), according to a notice filed with the Singapore Exchange.
Proceeds will be used to repay loans, for capital expenditures and for other permitted purposes.
The notes will be listed on the Singapore Exchange Securities Trading Ltd.
JSW is a steelmaker based in Mumbai, India.
| Issuer: | JSW Steel Ltd.
|
| Issue: | Senior unsecured notes
|
| Amount: | $500 million
|
| Maturity: | April 13, 2022
|
| Coupon: | 5¼%, payable semiannually
|
| Announcement date: | April 5
|
| Settlement date: | April 12
|
| Ratings: | Moody’s: Ba3
|
| Fitch: BB (expected)
|
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