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The notes are convertible into Sterlite's American Depositary Shares (ADSs) at an initial conversion price of approximately USD23.33 per ADS, subject to adjustment in certain events. The offering is expected to close on 29 October 2009.
The proceeds will be used for expanding Sterlite's copper business with allied power plant, acquisition of similar businesses outside India and any other permissible purpose under applicable Indian laws and regulations.
The joint bookrunners for the offering are Deutsche Bank Securities Inc and Morgan Stanley & Co Inc.
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