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Jindal Saw to issue FCCBs worth USD 80 mn denominated in Yen

Written by: Staff

Mumbai, May 5 (UNI) Jindal Saw Ltd has decided to issue FCCBs (foreign currency convertible bonds) for up to USD 80 million denominated in Japanese Yen (equivalent to JPY 9,090 million), with an increase option for USD 20 million (equivalent JPY 2,270 million) through international offerings.

Announcing this, the company said it has entered into a Subscription Agreement with Barclays Bank PLC., sole Book Runner and Lead Manager on May 02 this year.

These FCCBs are unsubordinated and unsecured with a tenure of five years and 30 days and will have a coupon rate of 0.75 per cent paid annually in arrears, save that the first payment of interest will be made on July 1 next year in respect of the period from the closing date to July 1 next year.

Listing of FCCBs will take place at Singapore Stock Exchange in due course.


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