Tata power to raise $ 250 m via FCCB

It has launched the $250 million FCCB issue, which would also have a green-shoe option of raising a further $50 million, the company said. 

These bonds would be listed on the Singapore Stock Exchange.  Further, these (FCCBs) – having a coupon rate of 1-1.75 per cent – would be convertible into the company’s shares at a 10 per cent premium of over Rs 1,323.75 at the Thursday’s closing price on the NSE.

Nomura is acting as the sole underwriter and book runner to the offering, the notification added.

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