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MUMBAI: Lupin Ltd has announced that it has raised $100 million through an accelerated zero coupon foreign currency convertible bonds offering.

The bonds have a tenure of five years and are convertible into equity shares at a premium of 50 per cent to the BSE closing price of Rs 756.05 as on December 6.

The yield-to-maturity of the bonds is set at 6.05 per cent per annum.

The bonds are likely to be listed on the Singapore Stock Exchange.

The offering was launched after market trading hours on December 6. Merrill Lynch acted as the sole book-runner to the transaction.

(This article was published in the Business Line print edition dated December 8, 2005)
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