India’s Mercator gets OK for Rs. 300 million debentures placement

By Marisa Wong

Morgantown, W.Va., June 29 – Mercator Ltd. said its board of directors approved on Friday the allotment of Rs. 300 million of secured unlisted non-convertible debentures.

This will be the company’s second tranche sold to UTI Structured Debt Opportunities Fund I in a private placement.

Proceeds will be used to repay existing debt and for general corporate purposes.

Mercator is a Mumbai-based ocean shipping company.

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