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Article: Sterlite Industries (India) Limited Announces a Proposed Convertible Notes Offering.
- Article from:
- Business Wire
- Article date:
- October 15, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MUMBAI, India -- Sterlite Industries (India) Limited ("Sterlite") today announced that it has filed a post effective amendment to its automatic shelf registration statement with the U.S. Securities and Exchange Commission (the "SEC"), which is effective immediately. Pursuant to this, it is offering to issue and sell, subject to market and other conditions, up to $500 million aggregate principal amount of Convertible Senior Notes that will be convertible into Sterlite's American Depositary Shares ("ADSs") (the "Offering").
Sterlite intends to use the net proceeds from the Offering for expansion of its copper business with allied power plant, acquisition of ...