Aftek raises $30mn via FCCBs

Aftek Infosys has alloted 3,000 foreign currency convertible bonds (FCCBs) of $10,000 each carrying a coupon rate of 1% aggregating $30 million.

The FCCBs, due for maturity in 2010, are convertible into GDRs or equity shares at an initial conversion price of Rs 94, and are to be listed on the Luxembourg Stock Exchange, the company said in a release today.

Subscribers to the bonds include Royal Bank of Canada, Dresdner Kleinwort Wasserten (London), Tuder Capial, Jefferies Asset Management and AIG, the release added.