By Kenneth Lim
Boston, Dec. 18 - India's Financial Technologies India Ltd. on Friday issued $100 million of convertible bonds at an initial conversion premium of 20%.
Financial Technologies did not disclose the yield and tenor of the bonds.
Deutsche Bank was the bookrunner of the Regulation S offering.
The bonds may be mandatorily converted after one year.
Financial Technologies, a Chennai, India-based developer of exchange trading platforms for financial institutions, said the proceeds of the deal will be used to establish new development centers in India, to finance overseas ventures and to fund acquisitions abroad.
Issuer: | Financial Technologies India Ltd.
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Issue: | Convertible bonds
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Bookrunner: | Deutsche Bank
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Amount: | $100 million
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Conversion premium: | 20%
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Conversion price: | Rs. 2,362
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Pricing date: | Dec. 15
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Distribution: | Regulation S
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