Aban Loyd Chiles Offshore has launched and priced an offering of five-year, zero coupon, yen-denominated foreign currency convertible bonds (FCCBs) for yen 9.30 billion (equivalent to approximately $80 million) with a greenshoe option of yen 2.32 billion (approximately $20 million).According to a release issued by the company to the BSE today, an application will be made to list the bonds on the Singapore Stock Exchange."The conversion price will be set at a premium of 40% over the volume weighted average price of the equity shares of the company on the National Stock Exchange of India (NSE) for 30 consecutive trading days ending five trading days prior to April 19, 2007. The conversion price will be subject to a floor Rs 1,000 per equity share with a face value Rs 2 each. The yield to maturity (YTM ) will be 4% per annum," the release added.
