Videocon completes 2nd convertible this year after pricing mishap

Bookrunner forced to lower yield after initial offer was in breech of Indian regulations.

IndiaÆs Videocon Industries has raised $105 million from its second convertible bond issue this year which will be used to partly to finance oil and gas exploration projects in Oman and Australia, partly to expand its colour picture tubes business.

BNP Paribas was sole bookrunner for the offering, which marked its debut as an arranger of CBs for issuers out of Asia where the bank typically focuses on straight equity and debt. And while the issue did eventually get done,...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES