Core Projects and Technologies said on Friday it has launched a foreign currency convertible bonds (FCCBs) issue worth $60 million on Thursday, with an additional up size of up to $15 million.
On Thursday Core Projects' board had approved raising up to $75 million in one or more tranches via FCCBs, while the issue will close on May 6, it said in a statement.
The FCCBs have a coupon rate of 7% per anum at an initial conversion price of Rs271.80 per share, it said in a statement.
Standard Chartered Bank is the sole book runner to the issue, it added.
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