 "The reliefs and concessions sought by JSW were part of the committee of creditors approved resolution plan")
JSW Steel on Friday said it has raised Rs 2,000 crore through issuance of non convertible debentures (NCDs) on private placement basis.
According to a source, the company has raised fresh funds of around Rs 2,000 crore from 10-year bonds from LIC at 8.79 per cent payable semi-annually.
The Sajjan Jindal-led company has allotted NCDs having a rate of 8.79 per cent, of Rs 10 lakh face value each, aggregating to Rs 2,000 crore on private placement basis, according to a regulatory filing.
The proceeds would be used for meeting long-term working capital requirements, refinancing existing debt, general corporate purpose and ongoing capital expenditure.
