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Tata Power raises FCCBs worth USD 300 million Email this page
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Mumbai, Nov 21 (PTI) Tata Power today said it has raised USD 300 million (Rs 1,396.5 crore) by issuing foreign currency convertible bonds (FCCBs).
The company has launched FCCBs worth USD 250 million, with an option to raise additional USD 50 million, if the subscription is fully subscribed, Tata Power said in a filing to the Bombay Stock Exchange.

The FCCBs have a coupon rate of 1.75 per cent for a period of five year and one day, the filing added.

The FCCBs are convertible at 10 per cent premium over the closing share price on the National Stock Exchange of India on November 5 (Rs 1,322.30) and bear a yield to maturity of 3.5 per cent per annum calculated on semi-annual basis, it said.

These bonds would be listed on the Singapore Stock Exchange.

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