JSPL eyes dollar bonds to repay offshore debt

MUMBAI : Jindal Steel and Power Ltd (JSPL) is preparing to sell dollar-denominated bonds to refinance debt held by its overseas units, three people aware of the development said.

JSPL’s overseas operations include a steel plant in Oman and coal mines in Africa and Australia.

“They have a debt of around $750 million in their overseas business. They might do a single bond or tranches, which will be used to refinance the debt. They are in advanced stages of appointing a banker syndicate to work on these bonds,” one of the three people said on the condition of anonymity as he is not authorized to speak to reporters.