GMR Infrastructure $300 million 7.5% convertible bond issue

Overview:

• GMR Infrastructure has issued $300 million subordinated convertible bonds to Kuwait Investment Authority (KIA).
• The 7.5% notes are due in 2075.
• The bonds are convertible into fully paid up equity shares of GMR Infrastructure.
• The floor price for the conversion of the bonds has been fixed at Re18 per equity share.
• Deutsche Equities India was financial adviser to GMR and Citigroup Global Markets India advised KIA.

Katrin Kostadinova - Data analyst