Radico Khaitan excercises gree shoe option, raises US $70 million

With reference to the earlier announcement regarding issue of USD 40 million of Foreign Currency Convertible Bonds (FCCBs) with a green shoe option of USD 10 million, Radico Khaitan Ltd has announced that Jefferies International Ltd, the Sole Manager to the issue, has exercised the said green shoe option and consequently, the company has on August 25, 2006 issued FCCBs of US$ 10 million. These FCCBs have been issued on the same terms and conditions as the FCCBs issued on July 26, 2006 and will have a maturity of five years and one day and will be convertible into equity shares of the Company at a conversion price of Rs 172.5 per share. The FCCBs carry a coupon rate of 3.5% with a yield to maturity of 8.50%, calculated on an annual basis. The FCCBs will mature on August 26, 2011. The underlying equity shares on conversion will be listed on the BSE and NSE. The FCCBs are listed on the Singapore Stock Exchange.

In total, the Company has raised USD 70.0 million for its expansion program from the international market.

Source : Equity Bulls

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