By Kenneth Lim
Boston, May 16 - India's Suzlon Energy Ltd. priced $300 million of five-year zero-coupon convertible bonds on Wednesday to yield 7.6% with an initial conversion premium of 59.59% over its common stock's volume weighted average price on May 16.
The convertibles were offered at par.
Deutsche Bank was the bookrunner of the Regulation S offering.
Suzlon, a Pune, India-based maker of wind turbines, did not specify how it will use the proceeds of the deal.
| Issuer: | Suzlon Energy Ltd.
|
| Issue: | Convertible bonds
|
| Bookrunner: | Deutsche Bank
|
| Amount: | $300 million
|
| Maturity: | 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Redemption price: | 145.2%
|
| Yield: | 7.6%
|
| Conversion premium: | 59.59%
|
| Conversion price: | Rs. 1,800
|
| Pricing date: | May 16
|
| Distribution: | Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
