In exchange of existing US$200,000,000 6.75 per cent. Convertible Bonds due 2015
Videocon Industries announced that on 16 November 2015, the Company has launched Issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing US$200,000,000 6.75 per cent. Convertible Bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bond holders and subject to other statutory approvals.The Company shall make an application to the Singapore Exchange Securities Trading for the Bonds to be listed; and for in-principle approval for the Shares to be issued upon conversion of the Bonds to be listed on the National Stock Exchange of India and the BSE.
The Company has already obtained the approval of its shareholders by a special resolution passed on 27 June 2015 for the issue of the Bonds and for issue of the Shares upon conversion of the Bonds.
Credit Suisse is the Sole Bookrunner for the offering.
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