Tata Power launches $200mn FCCBs

Tata Power, on February 08, 2005, lauched Foreign Currency Convertible Bond (FCCBs) of $200 million for a period of 5 years with a 1% coupon attached to it. The FCCB offerig would be subject to fulfillment of certain conditions to the closing of the issue, according to a release issued to the BSE.

The bonds are convertible at 50% premium over the closing share price of February 08, 2005, and bear a yield to maturity of 3.88% compounded semi-annually. These bonds are expected to be listed on the Singapore Stock Exchange, the release added.

JP Morgan is the sole underwriter and bookrunner to the offering. The offering was launched after the trading hours on February 08, 2005.