India’s JSW Kalinga Steel (JKSL) is set to tap the corporate debt market with its debut shorter-duration bond issue this week, as it seeks to raise as much as 95 billion rupees ($1.03 billion), two merchant bankers said on Monday. The company will sell five-year zero-coupon bonds to raise 60 billion rupees at a yield of 8.76%, with a call option at the end of three years. The firm will raise another 35 billion rupees through five-year and one-day bonds, with a call option at the end of four years, the bankers said. The company has invited bids for both the issues on Wednesday and has hired a few foreign banks to act ... (full story)