Aurobindo Pharma redeems Zero Coupon Foreign Currency Convertible Bonds

Aurobindo Pharma Ltd had issued FCCBs aggregating to US$ 150 million (Tranche A) in May 2006. After repurchase and cancellation of FCCBs from time to time, the outstanding nominal value of FCCBs of US$ 106.25 million has been paid in full at the Redemption price of 146.285% of its principal amount on maturity date i.e. May 17, 2011 as per the terms and conditions of the offering circular dated May 12, 2006.

The Company had issued FCCBs aggregating to US$ 50 million (Tranche B) in May 2006. After repurchase and cancellation of FCCBs from time to time, the outstanding nominal value of FCCBs of US$ 32.95 million has been paid in full at the Redemption price of 146.991% of its principal amount on maturity date ie. May 17, 2011 as per the terms and conditions of the offering circular dated May 12, 2006.

The Company has paid an aggregate amount of US$ 203.86 million for both aforesaid tranches.

Pursuant to this all Bonds issued by the Company in May 2006 have been extinguished in full and there are no outstanding as on date.

The stock was trading at Rs.192.80, up by Rs.3.15 or 1.66%. The stock hit an intraday high of Rs.193.20 and low of Rs.190.50.

The total traded quantity was 0.53 lakhs compared to 2 week average of 1.77 lakhs.

Source : Equity Bulls

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