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18 May – LAWFUEL – The Law News Network – Linklaters has advised the…

18 May – LAWFUEL – The Law News Network – Linklaters has advised the lead manager and bookrunner, Barclays Capital, on the issuance by Mercator Lines Limited of US$60 million 1.50 per cent convertible bonds due 2010. This is the debut euromarket offering by Meractor Lines Limited, an Indian shipping company and the second Indian convertible bond brought to the market by Barclays Capital following the recent convertible bond issue by Jaiprakash Associates Ltd, on which Linklaters also advised.

The deal was launched on 8 April and closed on 26 April.

Linklaters capital markets partner, Keith Thomson, commented

“We are delighted to have the opportunity to work with Barclays Capital again on another successful Indian convertible bond issue.”

The Linklaters team based in London and Singapore was led by Keith Thomson and included Ben Dulieu and Piers Summerfield from London and Magdalene Leong and Linda Cheng from Linklaters Allen & Gledhill (Singapore). Other advisers on the deal were J Sagar Associates, Indian counsel to Barclays Capital and Rajani Associates, Indian counsel to the Issuer.

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