By Devika Patel
Knoxville, Tenn., April 29 - Prakash Industries Ltd. informed the Bombay Stock Exchange that it launched a $60 million issue of foreign currency convertible bonds, which mature in five years and one day.
The bonds were priced at par with a 5.25% coupon. The initial conversion price is Rs. 235.
Elara Capital plc is the manager.
Prakash Industries is an Agra, India-based manufacturer and exporter of diesel engines.
| Issuer: | Prakash Industries Ltd.
|
| Issue: | Foreign currency convertible bonds
|
| Amount: | $60 million
|
| Maturity: | Five years and one day
|
| Coupon: | 5.25%
|
| Price: | Par
|
| Yield: | 5.25%
|
| Conversion price: | Rs. 235
|
| Manager: | Elara Capital plc
|
| Warrants: | No
|
| Pricing date: | April 29
|
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