Mercator raises 2.5bn rupees in bonds

Mumbai: 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. [15/10/09]