By Devika Patel
Knoxville, Tenn., Dec. 7 - Videocon Industries Ltd. informed the Bombay Stock Exchange that it priced a $200 million issue of 6.75% convertible bonds on Friday. The launch of the offer was announced on Thursday.
The bonds are due Dec. 16, 2015 and are initially convertible into stock at Rs. 239.5265 per share, which is a 17.41% premium to the closing share price on Friday. They will be sold in denominations of $100,000.
Credit Suisse and Standard Chartered are the joint bookrunners.
Settlement is expected Dec. 15.
Proceeds will be used for capital expenditures on new and existing projects and overseas direct investments in joint ventures and subsidiaries.
Aurangabad, India-based Videocon is a conglomerate with businesses in consumer electronics retail, video-display component manufacturing and oil-and-gas production.
| Issuer: | Videocon Industries Ltd.
|
| Issue: | Convertible bonds
|
| Amount: | $200 million
|
| Maturity: | Dec. 16, 2015
|
| Coupon: | 6.75%
|
| Price: | Par of $100,000
|
| Yield: | 6.75%
|
| Conversion price: | Rs. 239.5265
|
| Conversion premium: | 17.41%
|
| Bookrunners: | Credit Suisse and Standard Chartered
|
| Announcement date: | Dec. 2
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 15
|
| Stock symbol: | Bombay: 511389
|
| Stock price: | Rs. 204 at close Dec. 3
|
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