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Kolkata, July 19

Tantia Constructions Ltd engaged in projects relating to civil and core infrastructure, announced on Thursday the closure of its $7.5-million offer of FCCBs (foreign currency convertible bonds). The bonds would be listed on Singapore Exchange Securities Trading Ltd Securities and SBI Cap (UK) Ltd is the lead manager for the issue. According to an official statement released by the company here, the FCCBs would have a tenure of five years and will be due in 2012. The instru ments carry a coupon rate of 1 per cent and are convertible at a price of Rs 140 per share, representing a premium of Rs 130 to the face value and a premium of 25 per cent to the existing market price. —

Our Bureau

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