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%.
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Amtek India makes cylinder blocks and other engine parts
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<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.

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