By Jennifer Chiou
New York, Sept. 21 - India's Suzlon Energy Ltd. priced $200 million of five-year zero-coupon convertible bonds to yield 7.55% with an initial conversion premium of 30% over its common stock's volume-weighted average price on Sept. 20.
The convertibles were offered at par.
Credit Suisse (Hong Kong) Ltd. was the bookrunner.
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.
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Issue: | Convertible bonds
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Bookrunner: | Credit Suisse (Hong Kong) Ltd.
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Amount: | $200 million
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Maturity: | 2012
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Coupon: | 0%
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Price: | Par
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Yield: | 7.55%
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Conversion premium: | 30%
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Conversion price: | Rs. 1,859.40
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Pricing date: | Sept. 21
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