Business Daily from THE HINDU group of publications
Tuesday, Dec 05, 2006
ePaper
Business Daily from THE HINDU group of publications Tuesday, Dec 05, 2006 ePaper |
|
|
|
|
|
|
|
Corporate
-
Overseas Borrowings Paramount raises $27 m through FCCBs Our Bureau,
New Delhi , Dec. 4 Paramount Communications Ltd has raised $27 million to meet expansion plans. "We are delighted by the confidence reposed in Paramount Communications by investors who appreciate the intrinsic strengths of the company. We plan to invest the raised funds to put up a new production facility, which we are eyeing to get operational within a year time," said Mr Sanjay Aggarwal, Chairman and CEO, Paramount Communications, in a release here. With two manufacturing units in Haryana and Rajasthan and a combined capacity of 25,000 km of power cables, the company is in the process of expanding its capacities to manufacture High Tension power cables.
1% coupon rate
The amount was raised through unsecured Foreign Currency Convertible Bonds (FCCBs) at a coupon rate of one per cent, which will be convertible into equity shares at a conversion price of Rs 265. The bonds have been issued for five years with a Yield to Maturity of 8.5 per cent. Currently, Paramount has three strategic business segments namely telecom, power and railways for which it manufactures a range of cables and wires.
More Stories on : Overseas Borrowings | Power
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|