May 10 (Reuters) - Terracom Ltd TER.AX :
* LAUNCH OF A FULLY UNDERWRITTEN, PRO-RATA NON-RENOUNCEABLE ENTITLEMENT OFFER AT $0.58 PER SHARE TO RAISE ABOUT A$35 MILLION
* ANNOUNCES A$63 MILLION RESTRUCTURING
* ELIGIBLE SHAREHOLDERS WILL BE ENTITLED TO APPLY FOR 3 SHARES FOR EVERY 20 SHARES
* ENTERED US$20 MILLION CONVERTIBLE BOND WITH OCP ASIA WITH EXERCISE PRICE OF A$0.696, TERM OF 3 YRS & COUPON OF 9.95% PA
* FOLLOWING COMPLETION OF REFINANCING OF EUROCLEAR LISTED BOND, CO EXPECTS CASH INTEREST COSTS TO REDUCE BY ABOUT A$16 MILLION PER ANNUM
* FUNDS FROM ENTITLEMENT OFFER & CONVERTIBLE BOND WILL BE USED TO REDUCE DEBT; CASH INTEREST COSTS WILL REDUCE BY ABOUT A$8 MILLION PER ANNUM