ESSAR TO FLOAT $130-M CONVERTIBLE EUROBOND
Article Abstract:
Essar Steel is coming out with a $130 million convertible eurobond issue towards financing the Rs500 crore equity component of its Rs1840 crore pellet complex project at Visakhapatnam. Sources say that the issue will be managed by investment bank CIBC Oppenheimer of the US and that foreign equity in the project will increase to 54 percent after conversion of the bonds. It has been assumed that the conversion price for the proposed bond issue will be Rs13.90 per share. The project comprises of a 7.8 million tonnes pellet manufacturing plant, a slurry pipeline systems for carrying iron ore fines and a 23 mw captive power plant. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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STEEL COs HIKE HR PRICES
Article Abstract:
Close on the heels of anti-dumping recommendations, major steel companies in India, like the Steel Authority of India (SAIL), Tata Iron and Steel Company (Tisco) and Essar Steel (ES) have increased the prices of hot-rolled products (HR) by Rs500-600 per tonne. SAIL has raised the prices of HR coils ,sheets and plates by Rs600 per tonne across the board. Tisco and ES have hiked prices by Rs500 per tonne. The price hike is around 4-5 percent of the market price of HR coils and sheets - Rs12,500- 16,000 - depending on the grades and specifications. (uh)
Comment:
Close on the heels of anti-dumping recommendations, major steel companies in India, like the Steel Authority of India (SAIL), Tata Iron and Steel Company (Tisco) and Essar Steel (ES) have increased the prices of hot-rolled products (HR) by Rs500-600 per tonne.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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