Date:02/11/2007 URL: http://www.thehindubusinessline.com/2007/11/02/stories/2007110252030400.htm

Back GTL Infra raises $300 m thru FCCBs

Mumbai, Nov. 1

GTL Infrastructure Ltd has said that it has raised $300 million through a Foreign Currency Convertible Bonds (FCCBs) issue on October 29. A total of 93 global investors participated with confirmed orders in excess of $1.1 billion, resulting in subscription of 4.41 times. Duetsche Bank, JP Morgan and Morgan Stanley are some of the high profile global investors who have participated, said a company source.The issue was lead managed by Citibank and Standard Chartered Bank, t he company said in a communication here. The city based company provides infrastructure provisioning services to telecom operators which include building and maintaining towers. The funds raised will be used to finance the company’s expansion plans, said the note. —

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