Khaitan acts on issuance of non-convertible debentures by JSW Steel

JSW Steel Limited has issued secured, listed, rated, redeemable, non-convertible debentures aggregating to ₹2,250 crore in two tranches on a private placement basis.

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.

Khaitan & Co acted as the legal counsel for JSW Steel on this issuance.

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

The proceeds of the Issue will be utilised by JSW Steel for long-term, inter-alia, working capital purposes and capital expenditure purposes.

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