Published on 11/18/2004 in the Prospect News Convertibles Daily and Prospect News Emerging Markets Daily.
New Issue: India's Sun Pharmaceutical sells $225 million convertibles to yield 4.61%, up 50%
New York, Nov. 18 - Sun Pharmaceutical Industries Ltd. said it priced $225 million of zero-coupon convertible bonds to yield 4.61% with a 50% initial conversion premium.
JPMorgan was bookrunner for the deal, with Jermyn Capital Partners plc as co-manager.
Sun Pharmaceutical is a Mumbai, India, pharmaceutical company.
| Issuer: | Sun Pharmaceutical Industries Ltd.
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| Issue: | Convertible bonds
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| Amount: | $225 million
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| Maturity: | 5 years
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| Coupon: | 0%
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| Yield: | 4.61%
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| Initial conversion premium: | 50%
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| Bookrunner: | JPMorgan
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| Pricing date: | Nov. 17, after close
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