Chennai:
The Mumbai-based Sun Pharmaceutical Industries Limited
has decided to raise $75 million through a foreign currency
convertible bond (FCCB).
The company had had earlier completed a fund raising programme
of accelerated five-year ''zero coupon'' FCCB for US $ 275
million priced at a 50 per cent premium over November
17 closing price with 4.61 per cent per annum yield-to-maturity,
subject to a greenshoe option of upto U.S.$ 75million.
With the proposed issue, the company''s aggregate size
of the FCCB issue is US$ 350 million