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Cranes Software Plans to Raise EUR 42 Million Through FCCB Offering to Fund Its Aggressive Growth Plan; Barclays Capital is the Sole Bookrunner and Lead Manager for the Offering.

Publication: Business Wire
Publication Date: 16-MAR-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
BANGALORE, India -- Cranes Software International Ltd., a global scientific and engineering software solutions provider, today announced the closure of its EUR 42 million offering of unsecured foreign currency convertible bonds (FCCBs). Barclays Capital is the Sole Bookrunner and Lead Manager for the offering.

Funds generated from this offering will be utilized towards further strengthening Cranes' financial structure, acquisition of IPs, businesses, products and companies, retirement of foreign currency term loans and capital expenditure towards optimization of growth prospects. The investment will enable the Company to reach focused markets through its proprietary products by addressing specific vertical areas through a modularization approach, improved go-to-market strategy by undertaking focused initiatives in that direction and to further augment its growth...

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