Sintex Industries plans to price $300 million in convertibles

By Devika Patel

Knoxville, Tenn., Feb. 28 - Sintex Industries Ltd. informed the Bombay Stock Exchange that it is raising $300 million through an issue of foreign currency convertible bonds, which would include a $75 million greenshoe.

As previously reported, the company authorized plans to issue up to $300 million in convertibles at a board of directors meeting on Nov. 30 and at an extraordinary general meeting on Dec. 24.

The company has appointed ICICI Bank UK plc and Silverdale Services Ltd. as the joint lead managers.

The bonds are expected to price on March 12.

Based in Kalol, India, Sintex Industries is a maker of plastic products, including building supplies.

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