Suzlon Energy prices US$ 150,000,000 5.00% Convertible Bonds due 2016

Suzlon Energy Ltd has priced the fresh issue of US$ 150,000,000 5.00% Convertible Bonds due 2016 (the "Bonds") on April 05, 2011. The initial conversion price of the Bonds has been set at Rs. 54.01 per share and the Bonds bear a yield to maturity of 6.50%. The Bonds will have a maturity of 5 years and 1 day and an application has been made to list the Bonds on the Singapore Stock Exchange Limited.

The issue of Bonds is also subject to an upsize option of an amount up to US$ 50 million, which has not been exercised as on date. Macquarie Capital (Singapore) Pte. Limited acted as the Global Co-ordinator, Joint Bookrunner and Joint Lead Manager and The Royal Bank of Scotland N.V., Hong Kong Branch acted as the Joint Bookrunner and Joint Lead Manager to the transaction.

The stock was trading at Rs.48.70, down by Rs.0.95 or 1.91%. The stock hit an intraday high of Rs.50.95 and low of Rs.47.85.

The total traded quantity was 50.47 lakhs compared to 2 week average of 40.29 lakhs.

Source : Equity Bulls

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