ISMT to issue FCCBs for US$ 20 million

ISMT Ltd has informed BSE that Committee of Directors (CoD) of the Company at its meeting held on November 03, 2006 has approved the issue of 0% Foreign Currency Convertible Bonds (FCCBs) upto US $ 20 Million to J P Morgan Securities (Asia Pacific) Ltd. These FCCBs comprising of Series A & B Bonds with maturity of 5 years and 1 day are convertible into Equity Shares at an average price of Rs 105/- per Equity Share. The Bonds carry a Yield to Maturity (YTM) @ 6 Months US $ LIBOR plus 2%.

Source : Equity Bulls

Keywords