Jaiprakash Associates extinguishes FCCBs

Jaiprakash Associates Ltd has now announced with reference to the FCCBs (USD 100 million - 0.50% Convertible Bonds due 2010 (FCCBs) issued by the Company in terms of the Offering Circular dated February 15, 2005, that 99.95% of the said Bonds having aggregate face value of USD 99.95 million have been converted and the Company has remitted an aggregate amount of USD 66,042.69 representing maturity amount of the balance 0.05% outstanding Bonds on the maturity date viz. February 17, 2010 and the interest payable thereon for the balance period.

With the aforesaid, the above referred FCCBs stand fully extinguished as on the date of maturity, i.e. February 17, 2010.

The stock was trading at Rs.138.35, up by Rs.2.50 or 1.84%. The stock hit an intraday high of Rs.139.80 and low of Rs.137.

The total traded quantity was 2431709 compared to 2 week average of 2237122.

Source : Equity Bulls

Keywords