Sintex Industries to close FCCB Issue

Sintex Industries Ltd has announced that the Committee of Board of Directors of the Company at its meeting held on March 12, 2008, has considered & approved the signing of Documentation for closing the FCCB issue.

Approval for allotment of 2250 Zero Coupon Unsecured Foreign Currency Convertible Bonds (FCCBs) of US $100,000 each for an aggregate amount of US $ 225,000,000 with a conversion price of INR 580/- and YTM of 5.20%.

The issue was joint lead managed by ICICI Bank UK Plc and Silverdale Services Ltd.

Source : Equity Bulls

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