India’s Videocon to issue $97.2 million convertible bonds in exchange

By Tali Rackner

Norfolk, Va., Nov. 17 – Videocon Industries Ltd. informed the Bombay stock Exchange that it has launched an offering of $97.2 million convertible bonds due 2020 in exchange for part of its $200 million 6.75% convertible bonds due Dec. 16, 2015.

Credit Suisse is the bookrunner.

The exchange is subject to the receipt of approval from a majority of the bondholders. A meeting is set for Nov. 30.

Aurangabad, India-based Videocon is a conglomerate with businesses in consumer electronics retail, video-display component manufacturing and oil-and-gas production.

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