Karur KCP to raise USD 10 mn via FCCBs for expansion projects

Mumbai, Apr 28 (UNI) Karur KCP Packkagings Ltd has informed BSE of its placement of USD 10 million Foreign Currency Convertible Bonds (FCCBs) issuance.

The bonds are of five years and one day duration and bear a coupon rate of two percent with yield-to-maturity of seven percent.

The money would be utilised to fund, increase in production capacity of Extensible Sack Kraft Paper (ESKP) by 40 per cent to 100 tons per day (TPD) through acquisition and addition of balancing equipment - increase in production capacity of polypropylene division by 60 per cent to 1050 metric ton (MT) per month, as well as setting up of wind mill.

Silverdale Services Ltd was the Sole Lead Manager for the offerings.

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