GE Shipping to raise Rs 100 crore via bonds

Great Eastern Shipping Co expects to raise Rs 100 crore via issue of 12-year bonds by the end of this week, a senior official said.

January 04, 2011 / 13:03 IST

Great Eastern Shipping Co expects to raise Rs 100 crore via issue of 12-year bonds by the end of this week, a senior official said.

"We have a bond issue in the market which is being floated currently," Chief Financial Officer G Shivakumar told Reuters on Tuesday.

The proceeds will go towards future acquisition of vessels and for other corporate purposes, he added.

The company has set aside USD 573 million to buy eight vessels with a total capacity of 1.31 million DWT by FY13, it had said in October last year.

first published: Jan 4, 2011 12:55 pm

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