Amtek India Limited raises US$ 130,000,000 6.00% Foreign Currency Convertible Bonds

Amtek India Ltd has informed BSE that, Amtek India Limited (the "Company") has, on March 19, 2012 priced an issuance of US$ 130,000,000 6.00% Convertible Bonds due 2017 (the "Foreign currency Convertible Bonds" or the "FCCBs"). The FCCBs, which have a maturity of 5 years and 1 day, are convertible at the initial conversion price of Rs. 103.005 per equity share. The FCCBs will bear a coupon of 6.00 % payable on a semi-annual basis. If not previously converted, redeemed or repurchased, the FCCBs will be redeemable at their specified maturity at 100% of their principal amount together with accrued interest. The FCCBs are expected to be issued and settled on or around April 05, 2012 and subsequently listed on the Singapore Exchange Securities Trading Ltd., (the "SGX-ST"), subject to receipt of approval from the SGX-ST.

The Company intends to use the FCCB proceeds for future acquisition and capital expenditures. The use of net proceeds shall be in accordance with the net use restrictions specified by the Reserve Bank of India.

Application will be made for the FCCBs to be listed on SGX-ST. Standard Chartered Bank has been appointed as the Sole Book runner and Sole Lead Manager for the offering of the FCCBs.

Further the Company has informed that, this notice is being issued by the Company for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of the Company including FCCBs and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

Source : BSE - >

Published on March 20, 2012


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