Lupin raises $100mn via FCCBs

Lupin has raised $100 million via foreign currency convertible bonds (FCCBs).

According to a release issued by Lupin to the BSE today, the bonds have a tenure of 5 years, and are convertible into equity shares at a premium of 50% to the BSE closing price of Rs 756.05 as on December 6, 2005. The yield to maturity (YTM) of the FCCBs has been set at 6.05% per annum.

The bonds are expected to be listed on the Singapore Stock Exchange, the release added.