JSPL pre-pays Rs 777 cr to the lenders of Jindal Steel & Power (Australia)
New Delhi: JSPL has pre-paid USD 106 million (or Rs 777 crore) to the lenders of Jindal Steel & Power (Australia) Ltd. This has led to a reduction in “Australian Debt” by as much as 50 percet, the company said in a statement.
Jindal Steel & Power (Australia) Ltd is a step-down subsidiary JSPL.
JSPL MD V R Sharma said, "We are paying back to lenders before time in order to strengthen our balance sheet. The company is aligned with the India growth story and we want to become a net debt-free company by FY23 through accelerated deleveraging".