Shard Capital announces the issuance of a US$30 million Unsecured Foreign Currency Convertible Bonds (FCCB) for India listed Lancer Container Lines Ltd.
The FCCBs were fully subscribed by investors at the time of closing.
The structure, which offers a 5 year 0% term, is convertible by the bondholders into Lancer Container Lines Limited new issued ordinary shares at a fixed price per share at the option of the bondholder. The FCCBs are listed on the Luxembourg stock exchange.
Shard Capital Partners LLP acted as Lead Manager.
Sender International Ltd acted as structuring advisor.
Pillsbury Winthrop Shaw Pittman acted as legal counsel to Shard.
Chris Woods, Partner at Shard Capital commented, “We are delighted to be involved in assisting with the delivery of this transaction to the market and look forward to providing professional investors with execution, custody and trading services for the Lancer Container Lines Ltd foreign currency convertible bonds.”
Adrian Sender, Managing Director at Sender International commented, “This well-organised structure and transaction provides an excellent approach of leveraging the capital markets for raising funding and investing into Indian listed companies and we look forward to being involved in other similar transactions in the future.”
James Campbell, Partner at Pillsbury commented, “We have been pleased to act for Shard on this transaction and delighted that the issue was positively received by investors.”
Mr. Abdul Khalik Chataiwala, Chairman and Managing Director of Lancer Container Lines Ltd commented, “we are pleased to announce that Lancer Container Lines Ltd (LCL) has successfully placed and priced USD 30 Million of unsecured Foreign Currency Convertible Bonds (FCCB). The proceeds of which will be used for rapidly scaling and expanding our operational reach. This is LCL’s debut convertible bond issuance which demonstrates our ability to tap a diverse set of global investors and the confidence of the investor community in LCL and our strong business model.
LCL remain committed to achieving its goals and taking the appropriate steps in the direction of being one of the market leaders in the logistics sector “
For further information, please visit www.shardcapital.com or contact:
SEC Newgate UK ShardCapital@secnewgate.com
+44 (0) 7900 248 213
+44 (0) 7961 463 864
Note to Editors
Shard Capital is a leading, London headquartered wealth and asset manager. It also offers investment, dealing and capital markets services to private, corporate and institutional clients, supporting them to achieve a broad range of objectives through its highly tailored service. Shard Capital uses a range of platforms, markets or financial instruments to meet its clients’ needs.
In just 10 years, Shard Capital has grown organically to manage and administer more than £2bn of assets.
About Sender International
Sender International is a fast-growing boutique consulting firm in London.
Pillsbury Winthrop Shaw Pittman is a leading international law firm recognised as one of the most innovative law firms by Financial Times.