By Angela McDaniels
Seattle, Oct. 16 - Bhagyanagar India Ltd. said it issued $15 million zero-coupon unsecured foreign-currency convertible bonds due 2011.
The bonds were priced at $100,000 each and have a conversion price of Rs. 44, according to a company news release.
The bonds have been accepted for listing on the Luxembourg Stock Exchange.
The company's board approved the issuance under lead manager Silverdale Services Ltd. at a meeting on Sept. 29.
Bhagyanagar is a manufacturer based in Secunderabad, India, that makes communication cables, filled coils and copper conductors.
| Issuer: | Bhagyanagar India Ltd.
|
| Issue: | Unsecured foreign-currency convertible bonds
|
| Amount: | $15 million
|
| Maturity: | 2011
|
| Coupon: | 0%
|
| Price: | $100,000
|
| Conversion price: | Rs. 44
|
| Lead agent: | Silverdale Services Ltd.
|
| Announcement date: | Oct. 16
|
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