Petronet LNG of India to Raise USD 53.15 Million

Petronet LNG, India’s largest LNG importer, said it has invited bids for Rs. 300 Crores ($53.15 million) through book building process for issuing Unsecured Redeemable taxable Non-Convertible Debentures (NCD) (Series I) for a period of five years through private placement basis.

The Cut Off Coupon Rate is at 8.35% per annum, Petronet LNG revealed in a filing to the stock exchange.

Petronet LNG  has set up the country’s first LNG receiving and regasification terminal at Dahej, Gujarat, and is in the process of building another terminal at Kochi, Kerala.

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LNG World News Staff, June 6, 2013; Image: Petronet LNG