Fccbs

Development of the domestic QIP market and the movement in the rupee are a slew of factors which contributed to the change in the scenario for fundraising, say market analysts

Jain Irrigation Systems will seek the shareholders approval at an EGM on 24 March for issue of FCCBs up to $75 million to non-promoter entities

Liquor firm Pincon Spirits says its board has approved raising of up to $30 million (approx Rs200 crore) through issue of foreign currency convertible bonds

Suzlon repays, in cash, foreign currency convertible bonds in principal amount, along with the applicable 8.7% redemption premium

Firm says may need time to fulfil repayment obligations to holders of $200 million of convertible bonds

Waning interest in convertible bonds means one less funding avenue as the stock market heads for its first loss in four years

After the deal with Kuwait Investment Authority, concerns are that there would be another dilution following the FCCB conversion at Rs18 per share

This FCCB issue is in exchange of a part of an outstanding amount of the existing $200 mn convertible bonds with an interest rate of 6.75% due this year

Earlier this year, the company had informed its bondholders that it will not be able to meet repayment obligations for the bonds maturing on 13 February

Jaiprakash Power Ventures further extends so-called standstill agreement with bondholders up to 30 April