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Money News

Subex board oks issuing $98.7 mln convertible unsecured bonds

MUMBAI (Reuters) - Subex Ltd said on Tuesday its committee of the board has approved issuing $98.7 million convertible unsecured bonds at a coupon rate of 5 percent.

The initial conversion price of the bonds that would mature on March 9, 2012 is 80.31 rupees, it said in a statement to the BSE.

The bonds are to be listed on the Singapore Exchange Securities Trading Ltd, it added.

Reporting by Tamajit Pain; Editing by Ramya Venugopal

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