By Angela McDaniels
Seattle, Jan. 29 - Aksh Optifibre Ltd. has completed an $8.75 million offering of 1% unsecured foreign-currency convertible bonds, according to a company notice filed with the Bombay Stock Exchange.
The bonds have a maturity period of three years and one day and are convertible into equity shares at an initial conversion price of Rs. 62 per share.
The net proceeds from this offering are expected to fund capital expenditure, including expansion of the company's projects, from time to time.
Gurgaon, India-based Aksh Optifibre manufactures and exports optical fiber cables and fiber-reinforced plastic rods.
| Issuer: | Aksh Optifibre Ltd.
|
| Issue: | Unsecured foreign-currency convertible bonds
|
| Amount: | $8.75 million
|
| Maturity: | 2010
|
| Coupon: | 1%
|
| Conversion price: | Rs. 62
|
| Announcement date: | Jan. 29
|
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