Flex Industries greenshoe exercised, raising 4% convertibles to $85 million

By Angela McDaniels

Seattle, March 22 - Flex Industries Ltd. said the $13 million over-allotment option for its recent offering of 4% foreign-currency convertible bonds due March 9, 2012 was exercised in full on Wednesday.

More specifically, the company's board of directors issued Global Certificates representing $13 million principal amount of bonds, according to a company notice filed with the Bombay Stock Exchange.

The company sold $72 million of the convertibles at par with a conversion price of Rs. 175 in the international markets via lead manager Elara Capital plc, London on March 8. The total amount of notes sold is now $85 million.

Flex Industries manufacturers flexible packaging and is based in Noida, India.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.