By Kenneth Lim
Boston, May 16 - India's Suzlon Energy Ltd. priced $300 million of five-year zero-coupon convertible bonds on Wednesday to yield 7.6% with an initial conversion premium of 59.59% over its common stock's volume weighted average price on May 16.
The convertibles were offered at par.
Deutsche Bank was the bookrunner of the Regulation S offering.
Suzlon, a Pune, India-based maker of wind turbines, did not specify how it will use the proceeds of the deal.
Issuer: | Suzlon Energy Ltd.
|
Issue: | Convertible bonds
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Bookrunner: | Deutsche Bank
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Amount: | $300 million
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Maturity: | 2012
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Coupon: | 0%
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Price: | Par
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Redemption price: | 145.2%
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Yield: | 7.6%
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Conversion premium: | 59.59%
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Conversion price: | Rs. 1,800
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Pricing date: | May 16
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Distribution: | Regulation S
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