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Bhushan Steel to raise Rs 1,000 crore from sale and lease-back of critical assets

09 Sep 2014 Evaluate

In a bid to reduce its Rs 40,000 crore debt burden, Bhushan Steel is planning to raise around Rs 1,000 crore from sale and lease-back of critical assets. Currently, the company’s term loan is around Rs 30,000 crore, much of which was for a 5.2 million tonne plant in Odisha. Working capital loan accounts for another Rs 10,000 crore.

Bhushan Steel, formerly known as Bhushan Steel & Strips, is one of the leading players in the steel industry with steel making capacity of 2.2 Million Tonnes Per Annum (MTPA).

Peers
Company Name CMP
JSW Steel 1187.00
Tata Steel 167.25
Steel Authority 165.00
Jindal Stainless 688.40
APL Apollo Tubes 2021.00
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