India's Welspun stops tender offer for $150 million 4.5% convertibles

By Marisa Wong

Madison, Wis., Dec. 15 - Welspun Corp. Ltd. said it terminated the cash tender offer for its $150 million of 4.5% convertible bonds due 2014.

The offer began on Dec. 6 and was scheduled to expire at 10:59 a.m. ET on Dec. 9.

The company said it is not proceeding with the tender offer because of market conditions and the prices at which the bonds were tendered.

Welspun Corp. is a metal pipe producer based in Anjar, India.

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