RCom redeems FCCBs

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Reliance Communications has made payment of US$1,182 million. (Rs.5,825 crore at the US$ 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 1, 2012. The 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 paid-up equity capital of the Company will remain unchanged post redemption of these FCCBs. Accordingly, Reliance Communications will be not required to allot 6,17,25,849 equity shares of Rs.5 each arising out of the potential conversion of the said FCCBs.

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