The prime objective of this issue was to raise capital for the Karaikal Port Project in the Union Territory of Pondicherry, which has been conceived on a build, own and transfer (BOT) model, MCL's Managing Director said.
The port was planned to have phase-wise development capacity of up to 10 million tonnes in the central Tamil Nadu. The Karaikal Port will be an all-weather port built over 600 acres and designed to handle volumes of import and export cargo traffic.
The FCCBs carrying a coupon rate of 3 per cent, were fully subscribed by Deutsche Bank, AG. London based Elara Capital Advisors Limited was the lead manager to the issue of the Luxemburg Stock Exchange-listed bonds.
MCL has initiated SEZ development, wind farm, power, IT parks, malls, and private port projects in Tamil Nadu. It offers turnkey infrastructure solutions for Indian and global IT/ITeS companies.
UNI PKS CS KN1702