Prithvi Information Solutions allots FCCBs

Prithvi Information Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on February 26, 2007, has allotted Zero Coupon FCCBs to an extent of USD 50,000,000 to Lehman Brothers Europe, London at a conversion price of Rs 469.13 (Rs 44.0900 per USD). The bonds are due for redemption in 2012.

M/s. Edelweiss Capital Ltd and Athena Capital Partners, LLP have acted as the Joint Lead Managers. The Bank of New York acts as Trustees for the Bonds. The proceeds of the Bonds will be utilized for the purpose of overseas acquisitions as well as other permitted usages. The Company has already identified few Companies for acquisition and they are likely to be materialized in next few months. The bonds will be listed on the Singapore Stock Exchange.

Source : Equity Bulls

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