The balance USD 28.8 million of the 5 percent April 2016 FCCB
series, which were due in April 2016, now stand redeemed in full," the company said.
The conversion prices of these bonds at ` 76.68 and ` 97.26 are much higher than its current share price and converting the FCCBs
will incur losses for the holders.
Kirti Vagadia, Chief Financial Officer - Suzlon Group said: "I am very pleased to inform that our bondholders have approved our request for up to a 45 day extension of maturity on our June tranche of FCCBs
. The resolutions were approved by significant majorities, with 100 per cent and approximately 93 per cent of bondholders who voted in the June 2009 and June 2007 series, respectively, being in favour of the extension.
Nearly two dozen Indian firms have an outstanding $5.8 billion in foreign currency convertible bonds (FCCBs
) that mature in 2012, brokerage Kotak Securities says.
It has varied from 1.30 in 2003 to1.44 in 2006.The only significant hike that can be seen is in the year 2005 when about Rs.350 crores were raised through Foreign Currency Convertible Bonds (FCCB
Indian firms are also permitted to borrow money abroad by issuance of Foreign Currency Convertible Bonds (FCCB
) or via American Depository Receipts (ADRs) and Global Depository Receipts (GDRs).
Established in 1994, MARG Ltd is listed on the Bombay Stock Exchange and the Luxembourg Stock Exchanges (FCCB
In future, domestic cement companies could go for global listings either through the FCCB
route or the GDR route.
is the bank holding company for First Citizens Community Bank (FCCB
), a Pennsylvania-chartered commercial bank.
at the time of issuance of Foreign Currency Convertible Bonds (FCCB
), and the commercial relationship of Adlabs, now Reliance Media Works Limited , with London-based BT Globenet Nominee's Limited.
In February, Istithmar, an anchor investor in SpiceJet, sold its entire equity stake in the airline for Rs 161.5 crore but remained invested through foreign currency convertible bonds ( FCCB