Our Bureau

NEW DELHI:

Monnet Ispat Ltd has decided to raise $60 million by way of foreign currency convertible bonds (FCCBs), which will be listed on the Singapore Stock Exchange.

The FCCBs, having a maturity period of five years, are convertible at a price of Rs 317.20 per share, at a premium of 24.09 per cent.

Also, the bonds entail a green shoe option of $15 million and carry a zero coupon rate with a yield to maturity set at 7.6 per cent.

JP Morgan is acting as the lead manager and sole book runner for this offering, a company release said.

(This article was published in the Business Line print edition dated February 4, 2006)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.