Deccan Chronicle launches $54.02 million FCCBDeccan Chronicle launches $54.02 million FCCB

MUMBAI: The Hyderbad based - Deccan Chronicle Holdings Ltd has announced that the company has launched $54.02 million foreign currency convertible bonds (FCCB).



According to the information posted on Bombay Stock Exchange (BSE), the bonds are likely to be listed on the Singapore Stock Exchange.

The offering was launched after the trading hour on 12 September.



The bonds have a maturity of five years, and are convertible at a price of Rs 522.835 per share - a premium of 60 per cent over the reference price of Rs 326.772.

The bonds carry zero coupon with a yield-to-maturity of 6.90 per cent.

The offering is subject to the approval of the shareholders at a meeting to be held on 30 September. JP Morgan is the lead manager and the sole book runner for the offering, according to the information on BSE.

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