Su­zlon Says Re­paid FCCBs Worth $28.8 mil­lion

The Economic Times - - Companies -

Su­zlon En­ergy said it has re­paid in cash for­eign cur­rency con­vert­ible bonds worth .₹ 28.8 mil­lion in prin­ci­pal along with 8.7% re­demp­tion pre­mium for bonds ma­tur­ing this month. Su­zlon had is­sued a five year FCCB se­ries in April 2011for $ 175 mil­lion at 5% coupon which ma­tured this April. In July 2014, af­ter a cash­less re­struc­tur­ing pro­posal was ap­proved, bond­hold­ers hav­ing FCCBs worth $146.2 mil­lion in prin­ci­pal amount of the 5% April 2016 FCCB se­ries opted to ex­change their FCCBs for a new FCCB se­ries ma­tur­ing in July 2019.

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