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Essar Oil plans bond issue

MUMBAI, JULY 5. Essar Oil is planning to issue foreign currency convertible bonds (FCCBs) on a preferential basis for $166 million with an option to issue additional FCCBs for $41 million. The denomination of the FCCB would be $1,000 per bond and the maturity would be on December 31, 2017, the company informed Bombay Stock Exchange today after the board meeting. The FCCBs would be listed on the Luxembourg Stock Exchange, it added. — PTI

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