Reliance Natural issues FCCBs for USD 300 million

With reference to the earlier announcement regarding the Company’s decision to make an international offering of Foreign Currency Convertible Bonds (FCCBs) upto an aggregate amount of US$ 300 million, Reliance Natural Resources Ltd has announced that the Company on October 16, 2006, has issued the said FCCBs aggregating USD 300 million. The FCCBs, which carry a coupon of 4.928% have a maturity period of 5 years and 1 day and are not listed.

The FCCBs, if fully converted into equity shares, will result in increasing the capital of the Company from 1,34,31,30,422 equity shares of Rs 5 each to 1,86,94,57,345 equity shares.

Barclays Capital was the Sole Manager and Bookrunner for the transaction.

Source : Equity Bulls

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