Essar Oil gets approval for $2 billion convertible debentures, bonds

By Devika Patel

Knoxville, Tenn., Aug. 12 - Essar Oil Ltd. informed the Bombay Stock Exchange that it approved plans to sell up to $2 billion of foreign currency convertible bonds and convertible debentures at an annual general meeting on Aug. 12.

The company also is considering equity shares, Global Depositary Shares and American Depositary Receipts.

Based in Jamnagar, India, Essar explores for oil and gas.

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