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Article: Sterlite Industries (India) Limited Announces Pricing of Convertible Senior Notes Offering.
- Article from:
- Business Wire
- Article date:
- October 16, 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" or the "Company") announces that it has priced its public offering (the "Offering") of $500 million aggregate principal amount of Convertible Senior Notes (the "Notes"). The Notes are convertible into the Company's American Depositary Shares ("ADSs") at an initial conversion price of approximately $23.33 per ADS, subject to adjustment in certain events. The Notes have a maturity date of October 30, 2014 and will bear interest at the rate of 4.00% per annum.
The Offering is expected to settle on October 29, 2009. Any change in the settlement date will be notified to investors through a press release ...