Sudar Industries board OKs up to $100 million of convertible bonds

By Ashley Montgomery

Kansas City, Kan., Nov. 30 - Sudar Industries Ltd. informed the Bombay Stock Exchange that its board of directors approved the issue of up to $100 million of foreign currency convertible notes or bonds.

The bonds would be issued for the purpose of raising funds.

The company may also issue up to the same amount of global depositary receipts, American Depositary Receipts, secured premium notes or other financial instruments convertible into equity shares.

The company is an apparel manufacturer based in India.

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