Tata Power today announced the completion of allotment of $300 million Foreign Currency Convertible Bonds (FCCBs) on November 20.

Tata Power had earlier this month launched and priced $250 million+ upsize option of $50 million, 5 years and 1 day, 1.75 per cent coupon FCCB offering. The FCCBs are convertible at 10 per cent premium over Tata Power’s closing share price on National Stock Exchange (NSE) on November 5 and bear a yield to maturity of 3.5 per cent per annum calculated on a semi-annual basis. These bonds will be listed on the Singapore Stock Exchange.

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