Financial Daily from THE HINDU group of publications
Wednesday, May 11, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 11, 2005 |
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Corporate
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Overseas Borrowings Jubilant to raise $75 m Our Bureau
NEW DELHI: JUBILANT Organosys Ltd will raise $75 million through a foreign currency convertible bond (FCCB) issue to be listed on the Singapore Stock Exchange. According to a company statement, the unsecured and zero coupon 5-year FCCB issue has an upsizing option of $25 million. The issue will have a yield to maturity of 6.6 per cent per annum, placed with international investors, it added. The FCCB has a 50 per cent conversion premium at Rs 1,365.32 a share, the statement said. The share has been hovering around Rs 900. The company has said that it has already applied for listing the FCCBs on the Singapore Stock Exchange. The proceeds of the issue will be used to fund the capital expenditure for the company's expansion plans, acquisition and any other permitted use, said the company.
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