MUMBAI, Oct 16 (Reuters) - Metals maker Sterlite Industries (India) Ltd said on Friday it had raised $500 million in convertible senior notes and plans to use the proceeds primarily for expansion of its copper business.
The notes are convertible into American depositary shares at $23.33 per share. They carry a coupon of 4 percent and mature on Oct. 30, 2014, Sterlite, a unit of UK-based Vedanta Resources, said in a statement.
Deutsche Bank and Morgan Stanley arranged the offer, it said.

(Reporting by Narayanan Somasundaram; Editing by Ranjit Gangadharan)

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