FINSIGHT

JSW Steel Ltd

Deals

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CCY	SZE(M)	TNR	MTY	RNK	MO	SP	FI	TYPE	BNCH	IPT	GDNC	SPRD	CPN	NIC	PRICE
USD	500.000	5	Apr-27	Sr. Unsecured	Ba2	NR	BB-	Fixed	YLD	-	4.375% a	-	3.95%	-	99.99900
USD	500.000	10	Apr-32	Sr. Unsecured	Ba2	NR	BB-	Fixed	YLD	-	5.5% a	-	5.05%	-	100.00000

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Tranche Comments

5 yr: First Pay: 2022-04-05; Registration: 144A/Reg S; Comments: USD500m 5yr 3.95% fxd. snr unsec, bmk RegS/144A. Ba2/NR/BB-. CS/DB/StCh/Axis/BNPP/Miz/MUFG/SBI. 4.375%a. Mixed. Combined Bks with long 10yr SLB>US$4.7bn from 245 accounts. Distribution: US 19% EMEA 42% ASIA 39%/ FM/AM 80% BANKS 13% PB 7%; 10 yr: First Pay: 2022-04-05; Registration: 144A/Reg S; Comments: USD500m 5.05% long 10yr fxd. snr unsec, bmk, Sustainable (SRI), Green GCP KPI -linked (SRI), ESG/SRI/Green RegS/144A. Ba2/NR/BB-. CS/DB/StCh/Axis/BNPP/Miz/MUFG/SBI. 5.5%a. Mixed. One time coupon step-up of 37.5bps if SPT not achieved. Combined Bks with long 5yr portion>US$4.7bn from 245 accounts. Distribution: US 29% EMEA 35% ASIA 36%/ FM/AM 93% BANKS 2% PB 5%;

Deal Comments

ESG / Green Yankee Bond

Use of Proceeds

Capital expenditure and pre-payment or repayment of debt

JSW Group

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CCY	SZE(M)	TNR	MTY	RNK	MO	SP	FI	TYPE	BNCH	IPT	GDNC	SPRD	CPN	NIC	PRICE
WLS	285.000	5.4	Nov-19	Fr. Zlvaperas	Xl2	-	AA	Ptyzc	BPR	-	5.50% p	-	5.38%	-	903.00000

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Tranche Comments

5.5 sw: Registration: Tfu T Qdkm; Comments: YNW400q 5.5yu jjk. onu rnosd FsuN. Wa2/WW. NwFw/VUN/Waud/WUOO/Fdwd/FN/WW/1VWW/JOA/Adk/MUW. 5.50% ausa. FapLj;

Use of Proceeds

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JSW Group

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CCY	SZE(M)	TNR	MTY	RNK	MO	SP	FI	TYPE	BNCH	IPT	GDNC	SPRD	CPN	NIC	PRICE
WAY	190.000	4	Mar-95	Ef. Snvatxfag	Gk2	-	ZZ	Sjokb	SGG	-	6.25% k	-	5.95%	-	821.00000

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Tranche Comments

5 lr: Book size: 119; Registration: Lmw Q Zjui; Comments: SVY500w 5wf 5.950% Osx. pwm, gwf vwgug Duk V bwjw. Ss2/SS. YS/SNL/SNJJ/Kgsg/KV/1SYS/HJJ/Jgb/VSCKSJV/VsKj. 6.25% sfus. Jgsux;

Use of Proceeds

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JSW Group

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