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    Jindal Steel and Power Limited (JSPL) has raised $475 million (approximately Rs 2,100 crore) in India through the takeout financing route to fund its expansion programme in the Gulf country. JSPL said the company raised the loan at 225 basis points over the Libor (London inter-bank offered rate) for a tenor of five years, with ten banks participating in the transaction.

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    Jindal Steel and Power Limited (JSPL) has raised $475 million (approximately Rs 2,100 crore) in India through the takeout financing route to fund its expansion programme in the Gulf country. JSPL said the company raised the loan at 225 basis points over the Libor (London inter-bank offered rate) for a tenor of five years, with ten banks participating in the transaction.

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    27 views3 pages

    Case Study Final

    Uploaded by

    sherwinmitra
    Jindal Steel and Power Limited (JSPL) has raised $475 million (approximately Rs 2,100 crore) in India through the takeout financing route to fund its expansion programme in the Gulf country. JSPL said the company raised the loan at 225 basis points over the Libor (London inter-bank offered rate) for a tenor of five years, with ten banks participating in the transaction.

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    Jindal Steel & Power Limited (JSPL), which owns the Jindal Shadeed Iron and Steel plant

    in Oman's Sohar district, has raised $475 million (approximately Rs 2,100 crore) in India through the takeout financing route to fund its expansion programme in the Gulf country.

    JSPL, one of India's largest steel-makers, said the company raised the loan at 225 basis points over the Libor (London inter-bank offered rate) for a tenor of five years, with ten banks participating in the transaction According to a Muscat Daily report, JSPL's takeout loan transaction is one of the largest such transactions by a company in India.

    Kalanaithi Maran is investing Rs130Cr in Spicejet by subscribing to convertible preference shares at a premium of 50% to the current share price of Rs.24. This equity infusion will increase his holding in the company to 43%. Kalanithi pledged 43.9 Mn shares to raised Rs200Cr for Spicejet in July. Spicejet is also talking to TPG Capital for an equity infusion of $270Mn to increase it's fleet size. The company had ordered 15 Bombardier's at a list price of $450 Mn in December'2010. The company had initially tied up a loan of around $250 Mn from Export Development Canada for the purchase. Vijay Mallya-run Kingfisher Airlines Ltd and Naresh Goyal-run Jet Airways (India) Ltd have also announced plans to raise $500 million and $400 million, respectively, while Jet Airways raised about Rs.500 crore from a land sale earlier this year.

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