By Sheri Kasprzak
Atlanta, Jan. 21 - NIIT Ltd. will issue $10 million in convertible bonds, the company said.
The bonds, issued to Intel Capital Corp., will carry a five-year term and bear interest at 2.5% annually.
The bonds are convertible into shares at Rs.200 per share throughout the maturity of the bond.
Based in New Delhi, NIIT is an internet-technology company that provides education and training products.
| Issuer: | NIIT Ltd.
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| Issue: | Foreign currency convertible bonds
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| Amount: | $10 million
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| Tenor: | Five years
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| Coupon: | 2.5%
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| Conversion price: | Rs.200
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| Investor: | Intel Capital Corp.
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| Announcement date: | Jan. 21
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| Stock price: | Rs.371.55 at close Jan. 19 (last trade)
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