Moser Baer raises $150mn via bond-sale

Mumbai: Optical storage devices major Moser Baer has raised $150 million (Rs 600 crores) through issue of Foreign Currency Convertible Bonds (FCCBs), which will be listed on the Singapore Stock Exchange.


 


The bonds will, subject to obtaining shareholders approval in this regard, be issued in two equivalent tranches of $ 75 million each. The FCCBs will have a tenure of five years from the date of allotment.


 


The issue was sold last night and received a good response and was over subscribed by 2.25 times the issue size.


 


Citigroup and Morgan Stanley are the joint book runners and lead managers for the offering.


 


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