Jaiprakash Associates has raised $100 million by issuing foreign currency convertible bonds (FCCBs).According to a release issued by the company to the BSE today, the bonds carry a cash coupon rate of 0.50% per annum payable annually.The bonds will mature on February 17, 2010, and the conversion price has been fixed at Rs 236.31 per share. "This represents a 33% premium over the volume weighted average price of the date of launch, i.e. January 27, 2005," the release said.The yield to maturity of the bonds is 6.15%, and redemption will be at 131.95% of par on February 17, 2010.The bonds will be listed on the Singapore Stock Exchange, the release said.
