GTL Infrastructure Issues US$300 million FCCBs

GTL Infrastructure Ltd has announced that the Company has completed its Foreign Currency Convertible Bonds (FCCBs) Issue on the following main terms.

The Size of the issue on Firm Basis was US $ 250 Million and Green Shoe Option was US $ 50 Million. The Total Issue size was US $ 300 Million.

The Coupon for the FCCB is 0% (Zero Percent). The Yield to maturity is 6.9% per annum.

The Conversion Price has been fixed at Rs 53.04/- per equity share (premium of Rs 43.04/-)

The Pricing & Trading Date is set as October 29, 2007. The Issue was Lead Managed by I. Citigroup Global Markets Ltd., United Kingdom, II. Standard Chartered Bank, United Kingdom.

The transaction would be consummated in accordance with the subscription agreement executed between the Company and the Managers to the Issue.

The Company received overwhelming response for its FCCB issue. In aggregate 93 Global Investors participated with confirmed orders in excess of US $ 1.102 billion, resulting in subscription of 4.41 times.

Source : Equity Bulls

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