Tantia Constructions raises US$ 7.5 Million through FCCB Issue

Tantia Constructions Ltd has announced that the Company on July 17, 2007, has pursuant to a Subscription Agreement with SBICAP (UK) Ltd sole Lead Manager for issue of the Bonds of US$ 7.5 million has successfully raised US$ 7.5 million on the following broad terms:

Broad Terms for Foreign Currency Convertible Bonds

Issue size: US$ 7.5 Million
Securities of the Bonds: Bonds are unsubordinated and unsecured
Issue Price: 100%
Listing of FCCBs: Singapore Exchange Securities Trading Ltd
Maturity Date: July 18, 2007 (5 year 1 day)
Conversion Period: Convertible at any time on or after July 17, 2007 upto and prior to the close of Business on July 05, 2012 unless previously reduced, converted or purchased and cancelled and except during a closing period.
Conversion Price: Rs 140/- per share
Coupon: 1 (One) %
FCCBS convertible into: Equity shares
Settlement upon conversion: Shares only

Source : Equity Bulls

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