Subex to raise over Rs 460 crore

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Agencies Tags : Subex Posted: Tuesday , Nov 03, 2009 at 1219 hrs Mumbai:

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Telecom software product company Subex said its board has approved issuing bonds worth USD 98.7 million (around Rs 464 crore) with a coupon rate of 5 per cent.

The committee of the board (CoD) at its meeting held on November 2, has approved the issuance of convertible unsecured bonds, Subex said in a filing to the Bombay Stock Exchange.

The initial conversion price of the bonds which would mature on March 9, 2012 is Rs 80.31, the filing added.

The bonds are to be listed on the Singapore Exchange Securities Trading Ltd, the filing added.

Barclays Capital acted as sole dealer manager to this transaction.

Shares of Subex were trading at Rs 71.55 on BSE, up 0.77 per cent from its previous close.

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