MUMBAI, June 8 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
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)