XL Telecom raises US$35 Million through FCCB Issue

XL Telecom & Energy Ltd has announced that with regards to US$35,000,000 zero coupon Unsecured Foreign Currency Convertible Bonds due 2012 (Subject to an over allotment option of up to an additional US$5,000,000 of such bonds) ("the Bonds"), the Company has raised US$35 million by way of issuing Foreign Currency Convertible Bonds in the international markets. The Closing Date for the Issue is October 22, 2007 and the Foreign Currency Convertible Bonds will be listed on the Singapore Stock Exchange.

Elara Capital Plc, London has been the Lead Manager for the Issue and Prabhudas Lilladher Advisory Services Pvt Ltd was the Indian Financial Advisors.

The Board has issued Global Certificate representing US$35 million in aggregate principal amount of Bonds.

The stock was trading at Rs.215.50, up by Rs.5.35 or 2.55%. The stock hit an intraday high of Rs.219.95 and low of Rs.214.

The total traded quantity was 3976 compared to 2 week average of 44926.

Source : Equity Bulls

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