Sunday, Apr 10, 2005
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By Our Staff Correspondent
MUMBAI, APRIL 9. Mercator Lines Ltd. (MLL), among the largest private sector shipping companies in the country, has raised $60 million (about Rs. 270 crores) through placement of Foreign Currency Convertible Bonds (FCCBs) with a cash coupon rate of 1.5 per cent annually and a maturity period of five years and one day. The issue was undertaken on a book building basis.Against a face value of Re. 1 per share, the initial conversion price is Rs. 149.53 per share representing 40 per cent premium over the volume weighted average price of the date of launch.
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