JSW Ispat signs Rs61.5 billion debt refinancing deal

JSW Ispat Steel has signed a deal to refinance Rs.61.5 billion of debt,enabling it to exit from a corporate debt restructuring programme. The steelmanufacturer was taken over by JSW Steel last year after it ran up big losses.It posted a net loss of Rs. 7.4 billion for the six months ended last December.India’s No. 3 JSW Steel had bought a controlling stake in Ispat for $476million to expand its operations.crackcrack