Sterlite Industries to raise up to 25 bln rupees via bonds-sources

Fri Jun 8, 2012 2:17am EDT

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MUMBAI, June 8 (Reuters) - Indian metals maker Sterlite
Industries is in talks with bankers to raise as much
as 25 billion rupees ($451.3 million) via bonds, proceeds of
which will go to its unit Sterlite Energy, three sources said on
Friday.	
    The company is planning to raise funds by issuing 5-year
bonds with a put/call at the end of third year and 10-year bonds
with five-year put/call, said the sources.	
    Base size of the issue is likely to be 15 billion rupees
with a green shoe option of up to 10 billion rupees, they said.	
    The issue will have a security cover of 1.25 times by
Sterlite Energy assets, they added.	
    Sterlite Industries did not respond to calls and emails.
 ($1 = 55.4 rupees)	
	
 (Reporting by Archana Narayanan)
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