MUMBAI, Dec 28 (Reuters) - Pharmaceutical packaging material
maker Bilcare Ltd <BIL.BO> said on Friday its Singapore unit had
raised $90 million through a foreign currency convertible bond
issue, to fund its global expansion plans.
The bonds carry a 4 percent coupon and are convertible at
$4.55 per share, valuing the unlisted Singapore unit at about
$360 million, Bilcare's vice president, finance, Vineet Mehrotra
told Reuters.
Bilcare plans an initial public offer for the Singapore unit,
Bilcare Singapore Pte Ltd, by 2010, he added.
(Reporting by Bharghavi Nagaraju; Editing by Prem Udayabhanu)
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Keywords: BILCARE CONVERTIBLES