2 Nov 2009 13:30
November 2, 2009
| The London Stock Exchange 10 Paternoster Square London EC4M 7LS |
Dear Sirs,
Sub.: US$ 98,700,000 5% Coupon Convertible Unsecured Bonds due 2012 issued by Subex Limited (the "Company").
We wish to inform you that the duly authorized Committee of the Board of the Company has, at its meeting held on November 2, 2009 approved the issuance of U.S.$ 98,700,000 5 per cent. convertible unsecured bonds of U.S.$ 100,000 or integral multiples of U.S.$1,000 in excess thereof, each of the Company (the "Bonds"). The initial conversion price of the Bonds is Rs. 80.31, the Bonds mature on March 9, 2012 and have a coupon rate of 5 per cent. The Bonds are to be listed on the Singapore Exchange Securities Trading Limited.
Further, the duly authorized Committee approved the following documents:
Offering Circular dated November 2, 2009;
Trust Deed dated November 2, 2009 with the Bank of New York Mellon, London Branch;
Paying and Conversion Agency Agreement dated November 2, 2009 with the Bank of New York Mellon, London Branch as the principal agent, conversion agent, transfer agent and paying agent, the Bank of New York Mellon as the registrar and the Bank of New York Mellon, London Branch as the trustee.
Barclays Capital acted as sole dealer manager to this transaction.
Kindly take the above notification on record. This is for your information as also for the information of your members and the public at large.
Thanking you,
Yours faithfully,
For Subex Limited
Raj Kumar,
Chief Counsel & Company Secretary
Nothing in this Announcement constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States, the Republic of Italy, the Republic of India or any other jurisdiction in which such offer or solicitation would be unlawful.