L&T - Issue of FCCBs

Larsen & Toubro Ltd (L&T) has informed BSE that on October 08, 2009, the Company has launched and priced an accelerated Foreign Currency Convertible Bonds (FCCB) offering. The FCCB are convertible into equity shares of the Company at the option of the Bondholders.

The main terms of FCCB offering are as follows :

- Issue size : US$ 200 million
- Face value : US$ 100,000 per bond
- YTM : 3.50%
- Coupon : 3.50%
- Tenor : 5 years & 1 day
- Initial Conversion Price : Rs. 1908.20 per share

The Bonds are expected to be listed on the Singapore Exchange Securities Trading Ltd.