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March 28 (Reuters) - Aerospace and defence company Cobham said on Tuesday it would raise about 512.4 million pounds ($642.6 million) through its rights issue to pay down debt.
The 2 for 5 rights issue of 683.1 million shares was priced at 75 pence per share, a 40.9 percent discount to its Monday close of 126.8 pence.
Cobham, which expects the right issue to be completed in the second quarter, also maintained its 2017 expectations.
$1 = 0.7974 pounds Reporting by Arathy S Nair in Bengaluru; Editing by Mark Potter