Bilcare subsidiary issued Conv Bonds

Thebullishtrends: Bilcare share price closed today at Rs.1509. Bilcare Ltd has announced that Bilcare Singapore Pte. Ltd., wholly owned subsidiary of the Company has issued USD 90 million 4% Convertible Bonds due 2012. The bonds may be redeemed in whole at the option of the bondholder on the maturity date at a price of 130.726% of the principal amount, plus accrued interest, as per the terms of the issue. The Bonds may be converted to shares of Bilcare Singapore Pte Ltd at maturity or 90 days after the completion of a Qualified IPO. The bonds will be listed on Singapore Stock Exchange. The proceeds from the issue will be utilized for the ongoing global expansion / investment plans of the Company.