Pioneer Embroideries FCCB issue price reset to Rs 223.96

Pioneer Embroideries Ltd has announced that the Company had issued USD 30 mn FCCBs on April 27, 2007. The Bonds, which were issued at a Conversion price of Rs 249.32 had the first reset at the beginning of 9th month following the issue Date i.e. on December 27, 2007.

As per the terms and conditions of the Bonds the Reset Price calculates to Rs 223.96.

Source : Equity Bulls

Keywords