South Asian Petrochem raises funds through FCCB issue

South Asian Petrochem Ltd has announced that the Share / Bond Allotment Committee at its meeting held on January 16, 2008 has considered and approved the signing of Documentation for closing the FCCBs Issue.

The Board also approved allotment of 200 Zero Coupon Unsecured Foreign Currency Convertible Bonds (FCCBs) of US $100,000 each for an aggregate amount of US $20,000,000 with a conversion price of INR 22.50/- and YTM of 6.35%.

The issue was lead managed by M/s Silverdale Services Ltd.

Source : Equity Bulls

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