Mumbai-based IT solutions firm Rolta, has made a tender offer to buy back $150 million zero coupon convertible bonds.
The bonds due in 2012, will be repurchased for cash. The company will determine a single clearing price which will allow it to repurchase the aggregate repurchase amount.
The bonds will be repurchased in the form of a Dutch auction, with bondholders being invited to tender their bonds at a price not less than 78 per cent and not exceeding 85.50 per cent of each nominal amount of $1,000 of bonds.
The offer opens on June 22, 2009 and will expire on June 25, 2009.
Barclays Bank PLC and Deutsche Bank AG, Hong Kong Branch are acting as Joint Dealer Managers. Deutsche Bank AG, London Branch, is acting as Tender Agent.
