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Ranbaxy raises $400 m through FCCBs

MUMBAI: Ranbaxy Laboratories has raised $400 million through the issue of foreign currency convertible bonds (FCCBs). The bonds are convertible into equity shares, which have been priced at a premium of 60 per cent to the Bombay Stock Exchange closing price of Rs, 447.70 as on February 15.The zero coupon bonds, having a tenure of five years, have an yield to maturity set at 4.8 per cent per annum.

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