To facilitate the company's compliance with Nasdaq's requirements, the holders of the Series C and E convertible preferred stock consented to having the first USD3.8m of net proceeds go to working capital of the company before redemption of such preferred stock in consideration for a reduction in the exercise price of the July 2016 warrants to USD1.43 and the May 2016 warrants to USD1.86 and a 15% increase in the redemption premium
of the Series E convertible preferred stock if not redeemed on or before 25 January 2017.
In April 2016, Suzlon subsidiary AE-Rotor Holding B.V announced the redemption of SBLC backed Bonds of US$ 590.4 million (carrying a coupon of 4.97%) and availed a credit facility of an equivalent amount at a competitive coupon of 3.30% backed by the SBLC, Foreign Currency Convertible Bonds (FCCBs) worth US$ 28.8 million were repaid along with the applicable redemption premium
In a BSE filing, Suzlon said: "It has been successfully repaid in cash, FCCBs worth USD 28.8 million in principal amount along with the applicable 8.7 percent redemption premium
The Suzlon Group, one of the leading global renewable energy solutions providers in the world, announced that it has successfully repaid in cash, Foreign Currency Convertible Bonds (FCCBs) worth US$ 28.8 million (mn) in principal amount, along with the applicable 8.7% redemption premium
. This was part of the 5% April 2016 FCCB series (ISIN: XS0614325156), which have now been redeemed in full and will cease to exist.
The gross proceeds of the Rights Offering, less the Foreign Exchange Adjustment as defined below, if any (the Rights Offering Proceeds) (with the expenses associated with the Rights Offering being paid from the general funds of the Company) will be used solely to fund the release and cancellation of that portion of the liabilities of the Company and SRUK under or in connection with the Bonds, including the obligation to repay the principal amount thereof, together with any accrued and unpaid redemption premium
, amendment fees and interest (Bond Liabilities) equal to the Rights Offering Proceeds (the Purchased Liabilities) and for no other purpose.
This is comprised of the CAN 25.00 per share original issue price plus a CAN 1.00 per share redemption premium
EP Energy on the closing date used the net income to fulfill and discharge all of the outstanding 8.125%/8.875% Senior PIK Toggle Notes due 2017 issued by its subsidiaries, EPE Holdings LLC and EP Energy Bondco Inc., counting the redemption premium
and the accumulated and unpaid interest on those notes, repay certain outstanding borrowings under the reserve-based revolving credit facility and pay a fee under a management fee agreement with certain affiliates of EP Energy's sponsors.
This is comprised of the $25.00 per share original issue price plus a $1.00 per share redemption premium
Carriage Services said its intention remains to use these proceeds to refinance an existing Revolving Credit, redeem its existing 7.875% senior notes, pay the associated redemption premium
, pay other transaction related fees and expenses, and provide for future corporate needs.
The option price reflects the aggregate of the nominal amount of the REBs, their redemption premium
and coupon payments, and all other outstanding amounts.
According to the company, it intends to use the net proceeds from the facility, which is anticipated to be approximately USD530m after the original issue discount, fees and expenses, to redeem all of the USD500m of outstanding 8.25% senior notes due 2017 and to pay the associated redemption premium
and accrued and unpaid interest.
Net proceeds of the credit facility are expected to be about USD530m after the original issue discount, fees and expenses, which will be used to redeem all of the USD500m outstanding 8.25% senior notes due 2017 and to pay the related redemption premium
and accrued and unpaid interest.