By Rebecca Melvin
New York, Sept. 7 - Amtek India Ltd. priced $70 million of five-year foreign currency convertible bonds at par to yield 2.5%, according to a news release.
The initial conversion price for the bonds is Rs. 103.005 per company share.
The bonds were sold under Regulation S via bookrunner DBS Bank Ltd., Singapore.
Settlement is expected Sept. 20, with the bonds subsequently expected to be listed on the Singapore Exchange Securities Trading Ltd.
New Delhi-based Amtek manufactures automotive components.
| Issuer: | Amtek India Ltd.
|
| Issue: | Foreign currency convertible bonds
|
| Amount: | $70 million
|
| Maturity: | Sept. 21, 2017
|
| Bookrunner: | DBS Bank Ltd., Singapore
|
| Coupon: | 2.5%
|
| Price: | Par
|
| Yield: | 2.5%
|
| Conversion price: | Rs. 103.005
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 20
|
| Distribution: | Regulation S
|
| Stock reference price: | Rs. 98.70, close as of Sept. 6
|
| Stock listing: | Bombay: 532282
|
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