Kinetic Engineering raises $18 million via FCCB

New Delhi, Feb 11 (UNI) Kinetic Engineering Ltd today said it has raised 18 million dollars through foreign currency convertible bonds (FCCBs) due 2013.

The Bonds have a tenor of five years and one day, and a yield to maturity of 5.45 per cent per annum calculated on a semi-annual basis. The bonds will be Issued at 100 per cent and will be redeemed at 119.54 per cent, said a statement.

KBC Financial Products UK Ltd, Kotak Mahindra (UK) Ltd and Athena Capital are Joint Lead Arrangers for the offering.

UNI PBB BJR KN1838