ARTICLE
17 October 2024

JSW Steel Limited | Issuance Of Non-convertible Debentures

KC
Khaitan & Co LLP

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Khaitan & Co acted as the legal counsel in relation to the issuance of secured, listed, rated, redeemable, non-convertible debentures aggregating to INR 2250 crores in two tranches ("Debentures") by JSW Steel Limited...
India Corporate/Commercial Law

Khaitan & Co acted as the legal counsel in relation to the issuance of secured, listed, rated, redeemable, non-convertible debentures aggregating to INR 2250 crores in two tranches ("Debentures") by JSW Steel Limited ("Company") on a private placement basis ("Issue"). The proceeds of the Issue will be utilised by the Company for long-term, inter-alia, working capital purposes and capital expenditure purposes. 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 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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