India New Issue-JSW Steel accepts bids for over 1-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 28 (Reuters) - India's JSW Steel Ltd has accepted bids worth 15 billion rupees ($182.5 million) for bonds maturing in one year and 10 days, three merchant bankers said on Tuesday. The steel company will pay a coupon of 7.85% on this issue, for which it had invited bids from investors and bankers earlier in the day. The bonds are rated AA by India Ratings and the issue will be settled later this week. In December, JSW raised 8.75 billion rupees selling five-year bonds at a 8.25% annual coupon.


($1 = 82.2125 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Savio D'Souza)

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