Financial Daily from THE HINDU group of publications
Tuesday, Jul 06, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 06, 2004 |
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Petroleum Corporate - Overseas Borrowings Essar Oil to raise $207 m via FCCB Our Bureau
Mumbai , July 5 ESSAR Oil Ltd has decided to raise $207 million through the issue of Foreign Currency Convertible Bonds (FCCB), the company has informed stock exchanges on Monday. The funds will be utilised for completing its 10.5-million-tonne refinery under construction in Vadinar, Gujarat. The work on the refinery has been resumed recently. According to a company official, CLSA Hong Kong has been appointed as the lead arranger. The issue has been approved by the company's board meeting on Monday.
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