Financial Daily from THE HINDU group of publications
Thursday, Apr 22, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Overseas Borrowings


Zee Telefilms to issue $100-m FCCBs

Our Bureau

Mumbai , April 21

ZEE Telefilms Ltd has informed the BSE that the company has decided to issue Foreign Currency Convertible Bonds aggregating $100 million in the international market. The issue also includes a greenshoe option of $15 million.

The bonds will be listed on the Singapore Stock Exchange.

The bonds will have a tenor of five years and will be convertible into shares at a premium over the current market price. They are convertible into newly issued ordinary shares of Rs 1 per share of Zee at the option of bondholders, at a conversion price of Rs 197.24 per share.

This is at a 35 per cent premium to the company's closing share price on the Bombay Stock Exchange of Rs 146.10 on April 20.

The bonds carry a coupon rate of 0.5 per cent per annum and would be redeemable at a price of 116.24 per cent, if not converted into ordinary shares during the period.

The issue, which was launched post-trading hours of BSE on April 20, received strong demand, a press release said. UBS AG and Citigroup Global Markets Inc were the joint book runners for the issue.

More Stories on : Overseas Borrowings | Radio/TV

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
TVS Motor declares second interim 70 pc


Coke commissions rainwater harvesting project phase III in AP
GM plans to launch six Tavera variants
Chemfab Alkalies mulling equity issue
Tata Motors to export trucks to Russia
Zee Telefilms to issue $100-m FCCBs
ICRA downgrades Falcon Tyres, HMT
CESC shareholders force poll on proposed merger of Balagarh Power, CESCON
Strides forms JV with Akorn to tap hospital segment in US
`Orissa project crucial for cutting down raw material imports'
`Tired' Coke mulls pulling out of Kerala
Everest Ind sees Rs 200-cr turnover — Plans capacity expansion
TNPL scouts for partner to set up stationery products unit
Economy pricing does the trick for Coca-Cola — Unit case volumes up 22 pc in India
Marico industries: Holding up, against odds



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line