JSW Steel Announces Full Redemption of US$ 750 Million in Senior Unsecured Notes
JSW Steel Limited has confirmed the full redemption and subsequent termination of its guarantee related to senior unsecured notes issued by Periama Holdings LLC, an indirect wholly owned subsidiary of JSW Steel Limited. The notes, originally listed on the Singapore Exchange Securities Trading Limited (SGX-ST), were aggregated to a total value of US$ 750,000,000.The issuance was executed by Periama Holdings LLC, a limited liability company incorporated under the laws of Delaware. The notes carried a 5.95% fixed rate and were structured in two tranches. The guarantee for these notes was provided by JSW Steel Limited pursuant to the trust deed dated October 19, 2020, as supplemented by the first supplemental trust deed dated December 21, 2020.
The notes matured normally and were fully redeemed on April 20, 2026. The redemption was managed by the Issuer, Periama Holdings LLC, utilizing a loan extended by JSW Steel Limited to facilitate the repayment.
The total financial structure of the notes and their initial issuance tranches are detailed below:
| Tranche | Date of Issue | Amount |
|---|---|---|
| First Tranche | October 19, 2020 | US$ 500,000,000 (USD Five Hundred Million only) |
| Second Tranche | December 21, 2020 | US$ 250,000,000 (USD Two Hundred Fifty Million only) |
| Total Notes Value | US$ 750,000,000 (USD Seven Hundred Fifty Million only) |
Following the repayment on April 20, 2026, JSW Steel Limited confirmed that all other payments in relation to the notes were completed, leading to the termination of the guarantee provided by the Company.
JSWSTEEL Stock Price Movement
As of 9:58 AM, JSW Steel Limited's shares rally by 0.67%, currently trading at ₹1283.1 as the metal major pushes toward its 52-week high of ₹1296.4. The stock is finding strong momentum in live trading, which has seen a volume of 690,373 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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