Indian owner Great Eastern Shipping has completed a sale of debentures worth INR 4bn ($59m) as it continues to expand its fleet.
The tanker and bulker company said the non-convertible securities were placed privately in two tranches of INR 2bn each.
They will carry interest of 8.24%.
The company last week reportedly snapped up a pair of aframax tankers from Phoenix Energy Navigation to continue an aggressive buying spree.
Shipbroking sources say the vessels heading to Great Eastern are the 105,500-dwt Phoenix Beacon (built 2011) and Phoenix Concord (built 2012).
The double deal means Great Eastern has now purchased eight vessels this year, with capesize and supramax bulkers among the other ships added of late.
