Educomp Solutions to list its FCCB at Singapore Exchange

Educomp Solutions Ltd has announced that the Company duly authorized by a resolution of the Board of Directors of the Company at its meeting held on July 25, 2006 & a special resolution passed by the shareholders of the Company at its annual general meeting on August 24, 2006, has issued FCCBs for an amount aggregating up to US 25 million though international offerings.

The sole Book Runner and Lead Manager to the issue was Jefferies International and following are the board terms of the said issue:

- Issue size: USD 25 million
- Currency Denomination: US Dollar
- Securities of the Bonds: Bonds are unsubordinated and unsecured
- Issue price: 100%
- Listing of FCCBs: Singapore Stock Exchange
- Maturity: October 14, 2011 (tenure of 5 years and 1 days)
- Closing Date: October 13, 2006
- Coupon : 1% paid semi-annually in arrears, on six and 12 months save that the first payment of interest will be made on April 03, 2007 & October 13, 2007 in respect of the period from the closing date to October 13, 2006.
- Initial Conversion Price: Rs 900/- per share
- Gross yield to maturity: 7.5% (on annual basis)
- FCCBs convertible into: Equity Shares
- Settlement upon conversion: Shares only

Source : Equity Bulls

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