By Devika Patel
Knoxville, Tenn., April 16 - Core Projects & Technologies Ltd. informed the Bombay Stock Exchange that it launched a $75 million issue of foreign currency convertible bonds due May 7, 2015.
The bonds have a 7% coupon and yield to maturity. The initial conversion price is Rs. 271.80. The conversion premium is 10% over the reference share price of Rs. 247.09.
Standard Chartered Bank is the bookrunner.
Settlement is expected May 6.
Core Projects is a Mumbai, India-based information technology products provider.
Issuer: | Core Projects & Technologies Ltd.
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Issue: | Foreign currency convertible bonds
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Amount: | $75 million
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Maturity: | May 7, 2015
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Coupon: | 7%
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Price: | Par
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Yield: | 7%
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Conversion price: | Rs. 271.80
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Conversion premium: | 10% over the reference share price of Rs. 247.09
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Bookrunner: | Standard Chartered Bank
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Warrants: | No
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Pricing date: | April 15
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Settlement date: | May 6
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Stock exchange: | Bombay
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Stock reference price: | Rs. 247.09
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