Global Fund raising Latham and Shearmans Multi-Jurisdictional teams conclude Sterlite Industries 500 million Convertible Bond Offering

Sterlite Industries, India’s largest non-ferrous metals and mining company, has completed a $500 million offering of Convertible Senior Notes that are convertible into Sterlite’s American Depository Shares (ADS), listed on the New York Stock Exchange. At 37.5 percent, this is the highest conversion premium on an Asian convertible bond in 2009 and represents one of the most significant registered convertible bond offerings out of India in recent times.