RCom pays redemption amount of US $1,182 Mn in advance to redeem outstanding FCCBs

Reliance Communications, India's largest integrated telecom service provider, has made payment of US $ 1,182 Mn. (Rs. 5,825 crore at the US$ exchange rate of Rs. 49.30) to make the largest ever redemption of all the outstanding Foreign Currency Convertible Bonds (FCCBs) from the US$ 1,000 million issued In February, 2007 and due on March, 01, 2012. Redemption amount is inclusive of the premium of 27.69%.

The company has made payment to the Principal Agent of FCCB - Deutsche Bank AG, London Branch.

The Reliance Communications Ltd stock closed the day at Rs.94.40, up by Rs.0.15 or 0.16%. The stock hit an intraday high of Rs.97.25 and low of Rs.91.80.

The total traded quantity was 51.96 lakhs compared to 2 week average of 47.94 lakhs.

Source : Equity Bulls

Keywords