INSUBCONTINENT EXCLUSIVE:
At 10:00 am, JSW Steel shares slid 1.7 percent to Rs 678 on the BSEJSW Steel has raised $1 billion by issuing sustainability-linked bonds
(SLBs) in the abroad market, therefore becoming the first company in the steel sector internationally to issue an SLB in a hard currency
The bond concern included two tranches of 5.5 years and 10.5 years, for a quantity of $500 million each
Raised an overall of $1 billion in the USD bond markets through a RegS/144A issuance, which was subscribed by high quality institutional
financiers throughout Asia, Middle East, Europe and the US, JSW Steel said in a regulative filing to the stock exchanges.Seshagiri Rao,
joint managing director and group CFO, JSW Steel, said the overwhelming action garnered by the SLB issuance was a statement of stakeholder
confidence in JSW's commitment to climate modification mitigation.In the 10.5-year tranche, JSW Steel has committed to accomplishing a
target of 1.95 tonnes of CO per tonne of crude steel produced (tCO2/tcs) by March 2030, representing a 23 percent decrease from its 2020
levels.JSW Steel will utilize the proceeds from the abroad bond issue to fund its capex strategies and re-finance debt.Sustainability-linked
bonds are beneficial to both the providers and investors alike
Such bonds provide financiers with a platform to invest in socially accountable companies, while business are incentivised to enhance their
ESG (ecological, social, and governance) efficiency and diversify their source of long-lasting financing.At 10:00 am, JSW Steel shares slid
