Printer Friendly

India's Yes Bank helps United Phosphorus place INR3bn bonds.

BANKING AND CREDIT NEWS-26 April 2010-India's Yes Bank helps United Phosphorus place INR3bn bonds(C)1994-2010 M2 COMMUNICATIONS

26 April 2010 - India's Yes Bank Ltd (BOM:532648) handled the sale of bonds worth a combined INR3bn (USD68m/EUR50m) of Indian chemicals maker United Phosphorus (BOM:512070), Reuters reported on Friday citing the issuer as saying in a filing to the local bourse.

The debt offer with a call option came in two parts of INR1.5bn each with maturities of seven and ten years. The bonds due in 2017 pay a 9.70% coupon, which could grow to 9.90% if its call option exercisable at the close of the fifth year is not used. The ten-year bonds have a call option that can be used at the end of the sixth year. If the option is not exercised, the 9.95% coupon will increase to 10.20%.

((Comments on this story may be sent to

COPYRIGHT 2010 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2010 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Banking & Credit News (BCN)
Date:Apr 26, 2010
Previous Article:Malaysia's Affin to turn Indonesian peer PT Ina Perdana into Islamic bank.
Next Article:First Midwest Bank buys Peotone Bank and Trust Co.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters