National Marine’s Board Approves $107 Million Convertible Bond

03/02/2010 00:00 AST

The board of National Marine Dredging Co., the United Arab Emirates-based company that deepens waterways, approved a plan to offer 391.5 million dirhams ($107 million) in convertible bonds.

The bonds will be converted at 7.83 dirhams each in four phases, the company said in a statement to the Abu Dhabi bourse today.

National Marine Dredging Co. - NMDC
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