By Angela McDaniels
Seattle, May 1 - Vivimed Labs Ltd. issued $12 million of 1% foreign-currency convertible bonds with a yield to maturity of 8%, according to a company notice filed with the Bombay Stock Exchange.
The bonds have a tenor of five years and one day.
Hanover Square Capital (UK) Ltd. is lead manager and has a $3 million over-allotment option.
The bonds are convertible into ordinary shares at a maximum conversion price of Rs. 185 per share, which is a 10% premium to the share price on the reference date.
The company said it will list the bonds on the Singapore Stock Exchange.
Vivimed Labs produces oral care, sun care and hair care products and is based in Hyderabad, India.
| Issuer: | Vivimed Labs Ltd.
|
| Issue: | Foreign-currency convertibles bonds
|
| Lead manager: | Hanover Square Capital (UK) Ltd.
|
| Amount: | $12 million
|
| Greenshoe: | $3 million
|
| Maturity: | 2012
|
| Coupon: | 1%
|
| Yield: | 8%
|
| Conversion premium: | 10%
|
| Conversion price: | Rs. 185 (maximum)
|
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