In a statement issued after the Cabinet meeting, the government also said investment made through foreign currency convertible bonds
and depository receipts would not be treated as foreign investment unless the debt is converted into equity.
The proceeds will be used for general corporate purposes of the Company, including repayment of maturing foreign currency convertible bonds
, capital expenditure and working capital as permitted by the Reserve Bank of India for bank finance.
The money is to be used by the company to repay bondholders holding foreign currency convertible bonds
8 billion in foreign currency convertible bonds
(FCCBs) that mature in 2012, brokerage Kotak Securities says.
MUMBAI, India, February 22, 2010 /PRNewswire/ -- QVT Advisors Private Limited ("QVT") today said it supports on a without prejudice basis the restructuring plan proposed on behalf of the holders of the USD 110 million Foreign Currency Convertible Bonds
("Defaulted Bonds") of Wockhardt Limited (the "Company" or "Wockhardt") and submitted to the Corporate Debt Restructuring ("CDR") Cell, CDR lenders and the Company.
Linkages are explained in terms of capital flows from international market to Indian market in the form of Foreign Direct Investment (FDI) and foreign institutional Investment (FII) and Indian companies raising funds from international financial market through the issue of foreign currency convertible bonds
(FCCBs) and the issue of the shares under ADR/GDR arrangement.
Jet Airways said it received shareholder approval to raise up to USD 400 million through private share placements, global depository receipts or foreign currency convertible bonds
, according to a filing with the Bombay Stock Exchange cited by numerous press reports.
Jefferies has become a leader in the issuance of foreign currency convertible bonds
(FCCBs) and provides for the issuance of ordinary equity shares through Global Depositary Receipts (GDRs) and American Depositary Receipts (ADRs).
has introduced and priced an accelerated offering of Foreign Currency Convertible Bonds
In other cases, when it was fashionable to soak up foreign currency convertible bonds
( FCCBs), companies went overboard.
Expected to tap the capital markets next month, the company may opt for a private placement, shares with differential voting rights or foreign currency convertible bonds
Bloomberg Markets ranked Jefferies at number 4 among Issuers of Foreign Currency Convertible Bonds
for Indian companies in calendar 2006.