KSL & Industries Updates on FCCB issue

KSL & Industries Ltd has announced that the Company has successfully launched and priced an offering of U.S.$ 80 million Foreign Currency Convertible Bonds (FCCBs). The issue has closed on May 18, 2007. The Shareholders of the Company had approved the fund raising plans in their meeting held on January 09, 2007.

The Bonds have been listed on the Singapore Exchange w.e.f. May 21, 2007. Cantor Fitzgerald & Co. has acted as sole placement agent for the FCCB issue. The net proceeds of the issue of Bonds will be utilized for the Capital Expenditure for the expansion of Textile Business and for such other purposes as may be permitted from time to time in compliance with the applicable guidelines issued by the RBI and the Govt of India.

Source : Equity Bulls

Keywords