Essar seeks approval for $2 billion in foreign currency convertibles

By Devika Patel

Knoxville, Tenn., May 19 - Essar Oil Ltd. informed the Bombay Stock Exchange that it decided to seek shareholder approval for its planned offering of $2 billion in foreign currency convertible bonds at a board of directors meeting on May 18.

Other securities being considered include Global Depositary Receipts, American Depositary Receipts and convertible debentures.

Mumbai, India-based Essar Oil is an integrated oil and gas company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.