Oct. 15, 2009 (Business Wire) -- Sterlite Industries (India) Limited (“Sterlite”) today announced that it has filed a post effective amendment to its automatic shelf registration statement with the U.S. Securities and Exchange Commission (the “SEC”), which is effective immediately. Pursuant to this, it is offering to issue and sell, subject to market and other conditions, up to $500 million aggregate principal amount of Convertible Senior Notes that will be convertible into Sterlite’s American Depositary Shares (“ADSs”) (the “Offering”).
Sterlite intends to use the net proceeds from the Offering for expansion of its copper business with allied power plant, acquisition of complementary businesses outside of India and any other permissible purpose under, and in compliance with, applicable laws and regulations in India, including the external commercial borrowing regulations specified by the Reserve Bank of India.
Deutsche Bank Securities Inc. and Morgan Stanley & Co. Incorporated are acting as joint bookrunners for the Offering.
A registration statement on Form F-3 relating to the Convertible Notes has been filed with and declared effective by the SEC. A prospectus supplement relating to the Offering has been filed with the SEC. The prospectus supplement, the registration statement, together with the prospectus contained therein, and documents incorporated by reference, including our Annual Report on Form 20-F for the fiscal year ended March 31, 2009, as amended by our Form 20-F/A, are available on the website of the SEC at www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus related to the Offering may also be obtained by contacting:
Deutsche Bank Securities Inc.
100 Plaza One, Second Floor
Jersey City, NJ 07311
Attention: Prospectus Department
or by email at prospectusrequest@list.db.com
Morgan Stanley & Co. Incorporated
1585 Broadway
New York, NY 10036
Attention: Prospectus Department
or by email at prospectus@morganstanley.com
About Sterlite
Sterlite is one of India’s largest non-ferrous metals and mining companies with interests and operations in aluminum, copper and zinc and lead. It is a subsidiary of Vedanta Resources plc, a London-based diversified FTSE 100 metals and mining group. As of 31 March 2009, Sterlite had total assets of US$8,710 million and Income before income taxes, minority interests and equity in net/(loss)/income of associate of US$1,069 million.
Sterlite’s main operating subsidiaries are Hindustan Zinc Limited for its zinc and lead operations; Copper Mines of Tasmania Pty Limited for its copper operations in Australia; and Bharat Aluminium Company Limited for its aluminium operations. The company operates its own copper operations in India.
