Fortis Healthcare completes $100 mn FCCB issue

Fortis Healthcare has announced the successful completion of $100 million FCCB issue. The five year bond is priced with a yield to maturity of 5.54 per cent and an initial conversion of Rs 167.

Shares of Fortis Healthcare closed at Rs 145.50 on BSE on Friday.

"This along with the ensuing preferential issue and the warrant conversion is in the direction of our efforts to strengthen our capital structure and creating sound foundation for future growth of the company," said Yogesh Sareen, chief financial officer, Fortis Healthcare.