Indian CB

Indian mid-cap issues $130 million convertible bond

The CB for Amtek India comes with a 5% conversion premium and plenty of asset swaps and attracts enough demand to be upsized by 30%.
<div style="text-align: left;">
Amtek India makes cylinder blocks and other engine parts
</div>
<div style="text-align: left;"> Amtek India makes cylinder blocks and other engine parts </div>

Autoparts maker Amtek India has raised $130 million from a fixed-price convertible bond that was upsized by 30% and triggered a rally in the share price. The deal proves that it is possible for mid-cap Indian companies to raise funds in the international CB market, but it also clearly shows that these deals are not an easy sell.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media