Firstsource Solutions redeems all outstanding FCCBs

Firstsource Solutions Ltd had issued USD 275,000,000 Zero Coupon Foreign Currency Bonds ("Bonds") due for redemption on December 04, 2012, of which, Bonds of face value USD 169,800,000 which had a redemption value of USD 236,650,260 were outstanding.

The Company has duly redeemed these Bonds on December 04, 2012.

The repayment was funded by way of the Company's cash reserves augmented with the preferential allotment of shares made to Spen Liq Private Limited and external borrowings.

The Company has, thus, fully discharged its obligation towards the Bondholders.

The Firstsource Solutions Ltd stock was trading at Rs.12.13, up by Rs.0.06 or 0.50%. The stock hit an intraday high of Rs.12.34 and low of Rs.11.95.

The total traded quantity was 8.88 lakhs compared to 2 week average of 5.62 lakhs.

Source : Equity Bulls

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