Gati Allots FCCB for USD 20 Millions

Gati Ltd has announced that the Company has issued and allotted US$ 20 Millions Zero Coupon Unsecured Foreign Currency Convertible Bonds having maturity period of 5 Years 1 Day (due 2011) on December 05, 2006. The Bonds will carry YTM of 7.98% and will be convertible at initial conversion price of Rs 125/- per equity share with a fixed rate of exchange on conversion of Rs 44.67 = USD 1.

The Bonds will be listed on Singapore Stock Exchange. The above equity shares on conversion will be listed on the BSE, NSE and HSE.

Rabobank International, Singapore has acted as the Lead Manager to this FCCB issue.

Source : Equity Bulls

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