Everest Kanto Cylinder Limited (EKC), a leading player in high pressure seamless cylinders, has redeemed the entire obligation of $49.98 million (Rs 265 crore including premium) towards its zero coupon foreign currency convertible bonds (FCCBs) which matured on October 10.
The redemption was in respect of FCCBs issued by the company in October 2007.
According to Prem Khurana, chairman and managing director, the company has funded the redemption from a combination of rupee term loan and internal accruals.
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