Jindal Stainless may issue green bonds

14 Mar 2023 , 08:26 AM

According to news reports, Jindal Stainless (JSL) is considering issuing green bonds to pay off its existing debt of about Rs 2,800 crore. The largest producer of stainless steel in the nation has started consulting with experts to develop sustainability-focused goals that could qualify it for more affordable financing via the green bond route. 

JSL has been utilizing scrap stainless steel as its primary raw material source and will present its company to potential bond investors as a significant recycler.

The possible bond issue’s revenues will be utilized to refinance the existing debts with more affordable borrowings. 

80% of the raw materials used by JSL in its manufacturing processes are scrap stainless steel. According to news reports, as part of the strategy to set sustainability-related targets for itself, it will also power all upcoming capacity additions with green power.

In 2015, the business underwent a corporate debt restructuring. As a result, some assets were separated out and put into a different company, Jindal Stainless Hisar.

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