India’s Zuari Global board approves up to Rs. 1.5 billion debentures

By Sarah Lizee

Olympia, Wash., Oct. 24 – Zuari Global Ltd. informed the Bombay Stock Exchange that its board of directors met on Thursday and approved the issuance of up to Rs. 1.5 billion secured redeemable nonconvertible debentures.

The debentures will have a tenor of up to two years from the date of allotment.

They will be issued on a private placement basis.

Zuari manufactures nitrogenous, phosphatic and potassic fertilizers. It is based in Zuarinagar, India.

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