Prakash Industries prepays $17.85 mn FCCBs

Prakash Industries has fully prepaid the outstanding obligation of $17.85 million cash consideration due towards 5.25 per cent April 2015 FCCBs.

Further, accrued interest for October 17 - February 18 due on the above outstanding obligations has been waived off by the bondholders.

As on date, the company’s debt has been further reduced by around ₹42 crore on account of conversion of the $6.5-million 5.95 per cent January 2023 FCCBs into equity shares out of the total $24.30 million FCCBs issued.

The stock of Prakash Industries closed 0.67 per cent lower at ₹208 on the NSE.

Published on March 01, 2018
TOPICS
Prakash Industries Ltd

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