By Kenneth Lim
Boston, June 22 - India's Rolta India Ltd. priced $150 million of five-year zero-coupon convertible bonds on Friday to yield 6.75% with an initial conversion premium of 50%, the company said in a statement.
The convertibles were offered at par.
Lehman Brothers was the bookrunner of the Regulation S offering.
The convertibles will have an initial conversion price of Rs. 737.40 per share.
Rolta, a Mumbai, India-based engineering company, said the deal will help to strengthen its international operations and facilitate faster growth.
| Issuer: | Rolta India Ltd.
|
| Issue: | Convertible bonds
|
| Bookrunner: | Lehman Brothers
|
| Amount: | $150 million
|
| Maturity: | 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 6.75%
|
| Conversion premium: | 50%
|
| Conversion price: | Rs. 737.40
|
| Pricing date: | June 22
|
| Distribution: | Regulation S
|
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