Maker and exporter of finished pharma dosage forms, Strides Arcolab will raise upto $100 million (over Rs 400 crore) through an FCCB issue to part-finance potential overseas acquisition plans.
The company today announced the launch of its foreign currency convertible bonds (FCCBs), which would raise $75 million. In addition, Barclays Capital, the lead manager to the FCCB issue, has an option to increase the issue size by an additional 25 million dollars, Strides Arcolab informed the Bombay Stock Exchange (BSE).
"Given a favourable credit and interest rate environment, we have decided to issue the bonds to meet capital expenditure, finance potential overseas acquisition programmes and invest in an overseas subsidiary," the company said.
Read more in The Economic Times article/
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment