Wanbury raises 15 mln euros via FCCBs

New Delhi, June 18 (UNI) Diabetes control drugmaker Wanbury Ltd today said it has issued and allotted Foreign Currency Convertible Bonds (FCCBs) worth 15 million euros.

The company proposes to utilise the funds for overseas acquisition, expansion, research and development and for other permitted purposes specified in the External Commercial Borrowings Guidelines, a statement said.

The FCCBs are divided into two parts namely Foreign Currency Convertible A Bonds and Foreign Currency Convertible B Bonds.

The company has allotted 800 Bond A of face value of 10,000 euros each fully paid and 700 Bond B of face value 10,000 euros each partly paid.

The size of Bond A is eight million euros fully paid. The paid-up amount of Bond B is 10 per cent marking the size of Bond B at seven million euros and paid-up amount at seven lakh euros.

UNI