Assam Company raises US$ 46 million through FCCBs

Assam Company Ltd has announced that the Company announces the successful raising of US$ 46 million through zero coupon unsecured Foreign Currency Convertible Bonds (FCCBs). The Bonds will be convertible into equity shares at a conversion price of INR 28.75 which represents 19% premium to closing price of November 23, 2006. The bonds have a tenure of 5 year and 7 days, with yield-to-maturity of 8.25%.

Silverdale Services Ltd, London, was the Sole Lead Manager for the offering.

Source : Equity Bulls

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