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Great Eastern Shipping to raise Rs150 crore via NCDs

LiveMint logoLiveMint 23-05-2017 PTI

New Delhi: Great Eastern Shipping Company on Tuesday announced that the debenture issue committee has approved raising up to Rs150 crore via issuance of non- convertible debentures on private placement basis.

“The debenture issue committee at its meeting held on Tuesday has approved the issue of 1,500 unsecured non-convertible debentures of Rs10 lakh each aggregating to Rs150 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 annum. The company has two main businesses --shipping and offshore.

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