By Devika Patel
Knoxville, Tenn., Dec. 28 - India's Bilcare Ltd. said its subsidiary, Bilcare Singapore Pte. Ltd., issued $90 million of 4% convertible bonds due 2012.
The bonds may be redeemed at the option of the bondholder on the maturity date at 130.726% of the principal amount, plus accrued interest.
The notes may be converted to shares at maturity or 90 days after the completion of a qualified initial public offering.
The bonds will be listed on Singapore Stock Exchange.
Proceeds will be used for the company's global expansion and investment plans.
Based in Ahmedabad, in India's Gujarat state, Bilcare is a pharmaceutical packaging company.
| Issuer: | Bilcare Ltd.
|
| Issue: | Foreign currency convertible bonds
|
| Amount: | $90 million
|
| Maturity: | 2012
|
| Coupon: | 4%
|
| Price: | Par
|
| Redemption premium: | 130.726%
|
| Pricing date: | Dec. 28
|
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