Business Standard

Great Eastern Shipping to raise Rs 150 cr via NCDs

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Press Trust of India New Delhi
Great Eastern Shipping Company today announced that the debenture issue committee has approved raising up to Rs 150 crore via issuance of non- convertible debentures on private placement basis.

"The debenture issue committee at its meeting held today has approved the issue of 1,500 unsecured non-convertible debentures of Rs 10 lakh each aggregating to Rs 150 crore by way of private placement," Great Eastern Shipping said in a BSE filing.

Tenure of the NCDs will be 10 years and will carry coupon/interest rate of 8.25 per cent per annum.

The company has two main businesses --shipping and offshore.

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First Published: May 23 2017 | 12:57 PM IST

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