by Amruth Sundarkumar | May 17, 2022 | Corporates, Credit Ratings, India
Tata Steel was upgraded to BB+ from BB by Fitch, now just one notch below an Investment Grade (IG) rating. The upgrade comes on the back of a “significant improvement” in its financial profile thanks to “record EBTIDA and significant debt...
by Amruth Sundarkumar | May 10, 2022 | India
Indian steel, energy, and cement conglomerate JSW Group will make a $7bn bid for Swiss-based global cement maker Holcim AG’s Indian units, namely, Ambuja Cements Ltd and ACC Ltd through a share acquisition. JSW will offer $4.5bn in its own equity and source the...
by Amruth Sundarkumar | Sep 6, 2021 | High Yield Bonds, India
Indian steelmaker JSW Steel is said to be lining up a $1bn bond issuance to ramp up capacity and lower funding costs. As per ET sources, JSW has hired Deutsche Bank, Standard Chartered, JP Morgan and BNP Paribas for the proposed issuance, which is expected to launch...
by Megha Malhotra | Aug 18, 2021 | High Yield Bonds, India
JSW Group’s port operating entity, JSW Infrastructure plans to issue $400mn via bonds and spend $1.3bn in capital expenditure over five years. Sources said that the proceeds from the bonds will primarily be used to replace more expensive rupee debt. JSW Infra has an...
by bondevalue | May 24, 2021 | Financial News, High Yield Bonds, India
India’s largest steel producer, JSW Steel reported its highest ever quarterly revenues in its earnings announcement on Friday. The steel giant’s revenues from operations rose 51% YoY to INR 269.3bn ($3.7bn) for Q4 ended March, and were up 9% YoY for FY21...
