Aurobindo Pharma Ltd has issued and allotted USD 200 million Foreign Currency Convertible Bonds (FCCBs) on May 16, 2006 in two Tranches. Tranche A consists of USD 150 Million and Tranche B consists of USD 50 Million. These are issued at 0 per cent, due May 2011, and listed on Singapore Exchange Securities Trading Ltd, Singapore.
The Tranche A are convertible into equity shares of the company within a period of five years at a conversion price of Rs 1014.06/- per share with a fixed rate of exchange on conversion of Rs 45.145/- = USD 1/-.
The Tranche B are convertible into equity shares of the Company within a period of five years at the greater of; (i) 1.3 times of volume weighted average price of a share for a period of 30 days prior to conversion price setting date on May 17, 2007 and (ii) the floor price of Rs 665/- per share, with a fixed rate of exchange on conversion of Rs 45.145/- = USD 1/-.
Barclays Bank PLC and Deutsche Bank AG have acted as the Lead Managers and Book Runners to this FCCB issue, according to the company release.