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Liquor maker United Spirits said late on Wednesday its board approved raising up to $225 million (approximately Rs 1,200 cr) through foreign currency convertible bonds (FCCBs) to cut high cost debt and help improve earnings.

Standard Chartered Bank, Rabo Bank and DBS Bank have been appointed as advisors to the issue planned in early 2012, the company said in a filing to the Bombay Stock Exchange.

Source By Business Standard

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