Jindal Steel & Power has reportedly planned to raise a foreign currency term loan of $630 million for its Australian step-down coal mining subsidiary Wollongong Coal (WCL). Of the two-tranche term loan, $430 million would be used to repay the existing loan, while the balance would be utilised for part-financing capital expenditure.
Jindal Steel & Power is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
