The Hindu Business Line : Uttam Galva raises $14 m thru FCCB issue

UTTAM Galva Steels today announced that it has exercised its green shoe option and raised $14 million through Foreign Currency Convertible Bonds (FCCB).

The Green Shoe option of $14 million is over and above the initial FCCB offering of $30 million that got listed on the Singapore Stock Exchange, taking issue size to $44 million.

The bonds have a maturity of 5 years, a 2 per cent coupon payable semi annually and a YTM set at 7.25 per cent at the end of 5 years if not converted into shares during this period.

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