The Hindu Business Line : 3i Infotech raises $100 m in FCCBs

3i Infotech Ltd has successfully priced a zero coupon foreign currency convertible bonds (FCCBs) offering of $100 million convertible over a five-year period. The FCCBs are proposed to be listed on the Singapore Stock Exchange.

The FCCBs will be convertible at a conversion price of Rs 331.87 per equity share of the company, which is at a premium of 10 per cent to the company's closing equity share price on the NSE as on June 25. The FCCBs will be redeemable on the expiry of five years at a yield to maturity of 7.05, said a release from 3i. Lehman Brothers International is the sole book-runner for the transaction.

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