Great Eastern Shipping Co. Ltd. — Capital/Financing Update 2020

Oct 26, 2020

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Our Ref.: S/2020/JMT

October 26, 2020

BSE Limited National Stock Exchange of India Limited 1[st] Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5[th] Floor, Plot No. C/1, Dalal Street, Bandra Kurla Complex, Bandra (East), MUMBAI – 400 001 Mumbai – 400 051

Dear Sir,

Further to our letter dated October 21, 2020 this is to inform you that the Debenture Issue Committee at its meeting held today has approved the issue of 1500 Secured Non-Convertible Debentures of Rs. 10 lac each aggregating to Rs. 150 crore by way of private placement.

Given below are the relevant details of the said issuance:

1. Issue size: Rs. 150 crore

2. Listing of Security: Proposed to be listed on National Stock Exchange of India Limited (WDM segment)

3. Credit Rating: Credit Analysis & Research Ltd. and Brickwork Ratings India Private Limited have assigned “CARE AA+” (Outlook: Stable) rating and “BWR AAA” (Outlook: Stable) rating respectively.

4. Charge/security, if any, created over the assets - Exclusive charge on Ship(s) to be mutually agreed between Trustee & the Company from time to time with 1.20 times cover on market value of Ship(s). The Debentures shall be additionally secured by way of mortgage on immovable property.

5. Tenure: 8 years

www.greatship.com

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1. Date of maturity/redemption: Same as above

2. Coupon/interest offered: 8.05% p.a.

3. Schedule of payment of coupon/interest: Annually

4. Schedule of payment of principal: On maturity

The meeting of the Committee commenced at 3.00 p.m. and concluded at 3.20 p.m.

You are requested to take note of the above.

Thanking You, Yours faithfully, For The Great Eastern Shipping Co. Ltd.

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Jayesh M. Trivedi President (Secl. & Legal) & Company Secretary jayesh_trivedi@greatship.com

www.greatship.com