Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

JSW Steel said its wholly owned indirect subsidiary JSW USA Ohio is considering a proposal for raising long-term funds from the municipal bond markets in the USA for more than 30 days. The company shall provide a guarantee for these bonds.


The Jefferson County Port Authority will be issuing special, limited obligations bonds, utilized for extension of loans to JSW Ohio. The bonds will be paid back out of proceeds from the repayment of the loan received from JSW Ohio and the bondholders have no recourse to the Port Authority.


The purpose of reimbursing the loan is to modernize an electric arc furnace (EAF), including automation, upgradation and installation to improve the production of high-quality steel.


JSW steel intends to engage with potential investors over the issuance of the bonds. The bonds would not be offered or sold to India.

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