27th April 2005: Mercator Lines Ltd has informed BSE that the Company's transaction of Issue of Foreign Currency Convertible Bonds (FCCB), unsecured, aggregating US $60,000,000 (US Dollar 60 millions) on book building has been successfully completed and the Bonds are allotted on April 26, 2005. Particulars of the issue are as under:
- Size: US $ 60 million
- Book building & Pricing Date: April 07, 2005
- Allotment Date: April 26, 2005
- Maturity Date: April 27, 2010
- Initial Conversion price: Rs 149.53 per share (with a fixed rate of exchange on conversion of Rs 43.73 USD 1.00) representing 40% premium.
- Cash Coupon Rate: 1.50% p.a., payable annually
- Yield to maturity: 5.95% p.a.
- Redemption: At yield to maturity of 5.95% reducing the cash coupon rate.
- Listing: Singapore Stock Exchange.