Amtek Auto motors into CB market

Second Indian auto parts manufacturer accesses convertible bond market.

Amtek Auto raised $125 million yesterday April 26 becoming the second auto parts manufacturer in as many weeks to tap the CB market. The deal also marked the fourth transaction this year from Barclays Capital, which has shot up the Indian league table rankings from nowhere to second behind JPMorgan.

The deal came at the wide end of indicative terms, underscoring how price sensitive investors remain in weak markets. It also priced much wider than...

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