| Jubilant lines up $200 mn FCCB issue |
| Our Corporate Bureau / New Delhi April 26, 2006 |
| Jubilant Organosys has announced a $200 million foreign currency convertible bond (FCCB) issue to fund overseas acquisitions as well capital expenditure in domestic ventures. The conversion rate for the FCCB issue would be Rs 413.45 per share, the chemicals & pharma company informed the Bombay Stock Exchange. The $200 million unsecured and zero coupon five-year FCCB issue would be listed on the Singapore Stock Exchange and could be converted into shares listed on the National Stock Exchange and Bombay Stock Exchange or global depository shares on the Luxembourg Stock Exchange. J P Morgan was the book runner for the transaction, added the company release. The Jubilant board had approved raising up to $325 million overseas, a week ago and the FCCB issue would be utilising that approval, explained the company spokesperson. Commenting on the board decision, Hari Bhartiya, co-chairman, Jubilant, said, |
