Jeweller Ajay Kala presents a cheque to Sachin Tendulkar on behalf of the Rotary Club
Sotheby has proposed to acquire its New York headquarters, in Manhattan. To arrange for the funds, it has placed on offer $300mn worth of bonds - $150 mn of senior unsecured convertible notes which are due in 2013, and $150mn of senior unsecured notes due in 2015, to qualified institutional buyers. The funds will be employed in the acquisition, and to redeem $100 mn of existing 6.875 percent notes due in 2009.
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