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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 http://www.m2.com

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%.

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 26, 2010
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