Date:17/02/2006 URL: http://www.thehindu.com/2006/02/17/stories/2006021706391900.htm

Business - Briefly

Ranbaxy raises $400 m through FCCBs

MUMBAI: Ranbaxy Laboratories has raised $400 million through the issue of foreign currency convertible bonds (FCCBs). The bonds are convertible into equity shares, which have been priced at a premium of 60 per cent to the Bombay Stock Exchange closing price of Rs, 447.70 as on February 15.The zero coupon bonds, having a tenure of five years, have an yield to maturity set at 4.8 per cent per annum.