Strides Arcolab has announced that the company has redeemed US$ 34 million FCCBs due 2010. The company had originally raised US$ 40 million FCCBs in the year 2005 and has bought back US$ 6 million during the year 2009. The total payout for redeeming the bonds was US$ 46.50 million as the bonds were redeemable at a premium of 136.78%.
Post redemption of these FCCBs, the company now has outstanding FCCBs worth US$ 80 million out of the US$ 100 million raised in the year 2007. The US$ 80 million FCCB has an initial conversion price of Rs. 461.553 per share and if not converted before 27 June 2012, are redeemable at a premium of 145.058%.
Source :www.biginfotech.in
Post redemption of these FCCBs, the company now has outstanding FCCBs worth US$ 80 million out of the US$ 100 million raised in the year 2007. The US$ 80 million FCCB has an initial conversion price of Rs. 461.553 per share and if not converted before 27 June 2012, are redeemable at a premium of 145.058%.
Source :www.biginfotech.in
No comments:
Post a Comment