21
Mar
14:12
JSPL eyes becoming net-debt free
Jindal Steel and Power (JSPL)’s wholly-owned Mauritius subsidiary JSPML has prepaid a $357 million loan to its lenders, making the subsidiary a debt-free unit. The prepayment has also released JSPL as a corporate guarantor for JSPML, Kallanish notes.
“We are pre-paying our lenders to further strengthen our balance sheet and we want to become a net debt-free company by FY23 through accelerated deleveraging,” says JSPL managing director VR Sharma. …
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