Aurobindo Pharma allots FCCBs of USD 200 mn

By Staff
|
Google Oneindia News

Mumbai, May 17: Aurobindo Pharma has allotted USD 200 million foreign currency convertible bonds (FCCBs) yesterday in two tranches.

Tranche A consists of USD 150 million and Tranche B consists of USD 50 million. These are issued at zero per cent premium and have a term of 5 years. The bond would be listed on Singapore securities exchange, a company release informed BSE.

Tranche A will be convertible into equity shares of the company within a period of five years at a conversion price of Rs 1014.06 per share, with a fixed rate of exchange on conversion of Rs 45.145 to USD 1.

Tranche B would be convertible into equity shares of the company within a period of five years, at 1.3 times of average price of a share for 30 days. The conversion date is May 17, 2007. And the floor price is Rs 665 per share, with a fixed rate of exchange on conversion of Rs 45.145 to USD 1.

Barclays Bank PLC and Deutsche Bank AG have acted as the lead managers and book runners to this FCCB issue.

UNI

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