Mercator Lines has raised 2.5 billion rupees via bonds, the marine transport firm told the stock exchange on Wednesday.

The company sold 500 million rupees of three-year bonds, another 500
million rupees of four-year bonds and 150 million rupees of five-year
bonds, a company source told Reuters.

The secured bonds carry a coupon rate of 9.50 percent, payable
half-yearly, and are rated ‘AA’ by CARE, according to the stock
exchange disclosure.

ICICI Bank was arranger to the issue.

Source: Reuters

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