May 23 (Reuters) - Mercantile Investment Company Ltd MVT.AX :
* Will offer up to 150,000 MVT notes at an offer price of $100 per MVT note to raise up to $15 million
* MVT notes are unsecured, with an annual interest rate of 8%, payable semi-annually in arrears
* Proceeds from issue will be used to meet the costs of the offer and repay the company's existing short term debt facility
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