Suzlon Energy Ltd on Tuesday said it had set the initial conversion price of the $150 million convertible bonds at Rs 54.01 per share.
The company had announced on Monday that it would issue foreign currency convertible bonds, which are due to mature on 2016.
According to a communique to BSE, the company also has an option to issue additional bonds worth up to $50 million. The minimum price for the conversion of the bonds was Rs 46.05.
"The bonds will yield about 6.5% a year and will be listed on the Singapore Stock Exchange," Suzlon said. Macquarie Capital (Singapore) Pte. Ltd and Royal Bank of Scotland NV, Hong Kong, managed the issue.
Currently, Suzlon Energy shares are trading at Rs 48.70, down 1.91%.
