By Rebecca Melvin
New York, April 18 - Kemrock Industries & Exports Ltd. has priced $100 million of five-year foreign currency convertible bonds at par to yield 5.5% and with an initial conversion premium of a few percentage points, according to a company filing with the Bombay Stock Exchange.
The bonds have a $25 million greenshoe and an initial conversion price of Rs. 529.04 per share.
The bonds will be listed on the Luxembourg Stock Exchange.
Vadodara, India-based Kemrock Industries manufactures fiberglass reinforced polymer composites and resins.
| Issuer: | Kemrock Industries & Exports Ltd.
|
| Issue: | Foreign currency convertible bonds
|
| Amount: | $100 million
|
| Greenshoe: | $25 million
|
| Maturity: | 2017
|
| Coupon: | 5.5%
|
| Price: | Par
|
| Yield: | 5.5%
|
| Conversion price: | Rs. 529.04
|
| Settlement date: | April 17
|
| Distribution: | Regulation S
|
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