Khaitan & Co Advised JSW Steel On ₹2,250 Cr Issuance Of Secured Non-Convertible Debentures

Khaitan & Co Advised JSW Steel on ₹2,250 Cr Issuance of Secured Non-Convertible Debentures

Khaitan & Co advised JSW Steel on the issuance of secured, listed, rated, redeemable, non- convertible debentures worth INR 2,250 crores in two tranches.

The proceeds will be used for long-term working capital and capital expenditures.

The Debentures have been secured by way of first pari passu charge by way of hypothecation over the Company’s movable fixed assets, both present and future, forming part of:

i. The Upstream 3.8 MTPA Capacity, situated at Vijayanagar Works’, in the State of Karnataka for securing the Debentures issued under the first tranche; and

ii. Dolvi Phase II viz. 5MTPA to 10 MTPA integrated steel plant situated at Dolvi Works’, in the State of Maharashtra for securing the Debentures issued under the second tranche.

Yes, Bank Limited, ICICI Bank Limited and SBI Capital Markets Limited acted as the arrangers to the Issue.

The core team at Khaitan & Co consisted of Manisha Shroff (Partner), Dipayan Dash (Counsel), Sriram Madhav Kommu (Senior Associate), Anjuli Hora (Senior Associate), Akshansh Sharma (Associate) and Rishabh Kumar (Associate).

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