By Laura Lutz
Des Moines, Sept. 20 - Shri Lakshmi Cotsyn Ltd. completed a $10 million issue of five-year zero-coupon unsecured foreign currency convertible bonds.
The bonds are convertible at Rs. 150, which is an 18% premium over the market price.
Silverdale Services Ltd. was the lead manager for the offering, and Axis Bank Ltd. was the financial adviser.
The board approved the offering at a meeting on Sept. 20, and shareholders approved it at a meeting on June 25.
Shri Lakshmi is a Kanpur, India-based textile company.
| Issuer: | Shri Lakshmi Cotsyn Ltd.
|
| Issue: | Unsecured foreign-currency convertible bonds
|
| Amount: | $10 million
|
| Maturity: | Five years
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 0%
|
| Conversion price: | Rs. 150
|
| Manager: | Silverdale Services Ltd.
|
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