By Kenneth Lim
Boston, Feb. 6 - India's Reliance Communications Ltd. on Tuesday priced $1 billion of five-year zero-coupon convertible bonds to yield 4.95% with an initial conversion premium of 30% to its weighted average share price on Friday.
The Hongkong and Shanghai Banking Corp. and JP Morgan were the bookrunners of the Regulation S offering.
The initial conversion price was set at Rs. 661.23.
The convertibles will be listed in Singapore.
Reliance, a Maharashtra, India-based telecommunications company, did not say how it will use the proceeds of the deal.
| Issuer: | Reliance Communications Ltd.
|
| Issue: | Convertible bonds
|
| Bookrunners: | Hongkong and Shanghai Banking Corp. and JP Morgan
|
| Amount: | $1 billion
|
| Maturity: | Five years and one day
|
| Coupon: | 0%
|
| Yield: | 4.95%
|
| Conversion premium: | 30%
|
| Conversion price: | Rs. 661.23
|
| Pricing date: | Feb. 6
|
| Distribution: | Regulation S
|
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