India's TELCO overseas bonds raise $100 mln

Newswire

BOMBAY, July 24 (Reuters) - India's largest truck maker, Tata Engineering & Locomotive Co Ltd (TELCO) , has raised $100 million by issuing foreign currency convertible bonds, a company statement said on Thursday. The five-year bonds can be converted into local or global depositary shares after their term at around 250 rupees per share, a 17.5 percent premium to the company's closing share price on the Bombay Stock Exchange on Wednesday. If not converted into GDS or shares, the bonds, ...

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