JSW Steel USA to Secure Re Payment of Bonds for Modernization

  • Thursday, August 26, 2021
  • Source:ferro-alloys.com

  • Keywords:steel
[Fellow]JSW Steel USA to Secure Re Payment of Bonds for Modernization

【Ferro-alloys.com】JSW Steel Limited’s wholly owned indirect subsidiary JSW Steel USA Ohio Inc is considering a proposal for raising long term funds of more than 30 years in the municipal bond markets in the USA. The Jefferson County Port Authority will be issuing special, limited obligations bonds, the proceeds of which will be utilised for extending a loan to JSW Ohio. The Bonds will be repaid out of proceeds from repayment of loan received from JSW Ohio and the Bondholders will have no recourse to the Port Authority. The Company shall provide a guarantee on behalf of JSW Ohio, which will be utilised to secure the repayment of the Bonds.

The proceeds of the Loan are proposed to be utilised for the purpose of refinancing & reimbursing, in whole or in part, the cost of

1. Modernization of an electric arc furnace, consisting of automation and upgrade of the existing EAF at the steel manufacturing facilities located in the Village of Mingo Junction in Jefferson County in Ohio

2. Caster modernization including the installation of a Level 2 automation system to allow for the production of higher quality steel slabs at the Facility.

JSW Steel informed BSE “We would like to inform you that the Company is intending to engage in discussions with certain potential investors commencing on August 25, 2021 to discuss the issuance of the Bonds and the potential terms thereof. A preliminary offer document has been prepared and shall be made available to the prospective investors in relation to the contemplated issue of Bonds. The Bonds will not be offered or sold in India.”

  • [Editor:zhaozihao]

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