Vedanta Resources plc's (VED.L) subsidiary Sesa Goa Ltd announced the final terms of an offering of Foreign Currency Convertible Bonds or FCCBs. The size of the offering is US$ 500 million.
The company said that the FCCBs will have a coupon of 5% per annum, payable semi-annually in arrear and will be convertible into equity shares. The company specified that the conversion price has been set at Rs. 346.88 per share.
The company intends to use offering proceeds to expand mining operations, for exploration for new resources, and to further develop its pig iron and metallurgical coke operations.
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