Moser Baer to raise $150 mln through convertibles

New Delhi, June 5 (UNI) Optical media manufacturer, Moser Baer India Ltd today said its board has approved raising of 150 million dollars through the issue once of convertible bonds.

They are zero coupon bonds with a five-year tenor, the company said in a statement.

The issue would be in two tranches of 75 million dollar each.

Tranche A has a 25 per cent conversion premium, while Tranche B has a conversion premium of 40 per cent over the scrip's closing price of Rs 436.75 on the Bombay Stock Exchange (BSE) yesterday.

The bonds are expected to be listed on the Singapore Exchange Securities Trading Ltd, the statement added.

UNI