By Angela McDaniels
Seattle, Feb. 7 - Grabal Alok Impex Ltd. has issued $25 million foreign-currency convertible bonds due 2012 in two tranches, according to a company notice filed with the Bombay Stock Exchange.
The issuance included $5 million zero-coupon series A convertibles due 2012 that are to be converted within 41 days of closing and $20 million 1% series B convertibles due 2012.
The convertibles will be listed on the Singapore Stock Exchange.
The company obtained shareholder approval to issue up to $40 million foreign-currency convertible bonds or similar securities at an extraordinary general meeting on Dec. 22.
Grabal Alok is a Mumbai, India-based manufacturer of embroidered fabrics.
| Issuer: | Grabal Alok Impex Ltd.
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| Issue: | Foreign-currency convertible bonds
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| Total amount: | $25 million
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| Maturity: | 2012
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| Listing: | Singapore Stock Exchange
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| Announcement date: | Feb. 7
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|
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| Series A
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| Amount: | $5 million
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| Coupon: | 0%
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|
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| Series B
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| Amount: | $25 million
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| Coupon: | 1%
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