Business

JSW Steel Raises $1 Billion Through sustainability-linked bonds (SLBs) Bonds in overseas market; Stock Slides Nearly 2%

   Download Android App    Share in      FullScreen   CheckVideos

At 10:00 am, JSW Steel shares slid 1.7 percent to Rs 678 on the BSEJSW Steel has raised $1 billion by issuing sustainability-linked bonds (SLBs) in the abroad market, therefore becoming the first company in the steel sector internationally to issue an SLB in a hard currency.

The bond concern included two tranches of 5.5 years and 10.5 years, for a quantity of $500 million each.

.

Raised an overall of $1 billion in the USD bond markets through a RegS/144A issuance, which was subscribed by high quality institutional financiers throughout Asia, Middle East, Europe and the US, JSW Steel said in a regulative filing to the stock exchanges.Seshagiri Rao, joint managing director and group CFO, JSW Steel, said the overwhelming action garnered by the SLB issuance was a statement of stakeholder confidence in JSW's commitment to climate modification mitigation.In the 10.5-year tranche, JSW Steel has committed to accomplishing a target of 1.95 tonnes of CO per tonne of crude steel produced (tCO2/tcs) by March 2030, representing a 23 percent decrease from its 2020 levels.JSW Steel will utilize the proceeds from the abroad bond issue to fund its capex strategies and re-finance debt.Sustainability-linked bonds are beneficial to both the providers and investors alike.

Such bonds provide financiers with a platform to invest in socially accountable companies, while business are incentivised to enhance their ESG (ecological, social, and governance) efficiency and diversify their source of long-lasting financing.At 10:00 am, JSW Steel shares slid 1.7 percent to Rs 678 on the BSE as versus 0.45 percent rise in the benchmark indices.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20