Bharti Airtel, through its subsidiary company Bharti Airtel International (Netherlands) BV (Airtel) and Helios Towers Africa (HTA), the leading independent telecoms towers company in Africa, announced an agreement for the divestment of over 3,100 telecoms towers from Airtel to HTA. Bharti Airtel made the announcement after market hours on Wednesday, 9 July 2014.
Airtel will divest approximately 3,100 towers to HTA in four countries across its African operations, which will expand HTA's tower coverage in Africa to over 7,800 owned towers. The company said the deal will help Airtel deleverage through debt reduction and reduced ongoing capital expenditure. Airtel will have full access to the towers from HTA under a long term lease contract. The agreement also envisages that tower operations-related personnel will be transferred from Airtel to HTA.
The agreements while allowing Airtel to focus on its core business and customers, would also enable it to deleverage through debt reduction, and will significantly reduce its ongoing capital expenditure on passive infrastructure.
Bank of Baroda announced after trading hours on Wednesday, 9 July 2014, that it has issued fixed rate Senior Unsecured Notes amounting to $250 million on 8 July 2014 under Regulation-S by way of tapping/re-opening of its Senior Unsecured Notes of $750 million originally issued on 23 January 2014 and maturing on 23 July 2019. The notes are issued to meet the present/future long term funding requirement at the overseas centres of the bank.
Market regulator Securities & Exchange Board of India (Sebi) on Wednesday, 9 July 2014 imposed a fine of Rs 1.03 crore on Apollo Tyres for allegedly failing to comply with buy-back regulations.
Biocon turns ex-dividend today, 10 July 2014, for a final dividend of Rs 5 per share for the year ending March 2014.
Glenmark Pharmaceuticals turns ex-dividend today, 10 July 2014, for dividend of Rs 2 per share for the year ending March 2014.
Karnataka Bank turns ex-dividend today, 10 July 2014, for dividend of Rs 4 per share for the year ending March 2014.
Swaraj Engines turns ex-dividend today, 10 July 2014, for dividend of Rs 15 per share and a special dividend of Rs 20 for the year ending March 2014.
Thermax turns ex-dividend today, 10 July 2014, for dividend of Rs 6 per share for the year ending March 2014.
Zee Entertainment Enterprises turns ex-dividend today, 10 July 2014, for dividend of Rs 2 per share for the year ending March 2014.
Suzlon Energy said that the meetings of the holders of the respective series of Existing Bonds were held on 9 July 2014. Pursuant to the consent solicitation by the company in relation to the Existing Bonds and the consent solicitation memorandum and information memorandum each, the company has announced to the holders of the Existing Bonds that the proposed restructuring of the Existing Bonds, including the terms and conditions of the new foreign currency convertible bonds (the Restructured Bonds) has been approved by the holders of the Existing Bonds in their respective meetings. The company made the announcement before market hours today, 10 July 2014.
The company has also received the approval of the Corporate Debt Restructuring Empowered Group for the restructuring proposal and the approval of the Reserve Bank of India, subject to specified conditions, Suzlon Energy said.
The issue size of the Restructured Bonds will be $546,916,000. Subject to the satisfaction of certain conditions precedent, the Restructured Bonds are expected to be issued on 15 July 2014 (the Settlement Date) and will accordingly mature on 16 July 2019. The 0% October 2012 Bonds, the 7.5% October 2012 Bonds and the 0% July 2014 Bonds will cease to exist in full on the Settlement Date, Suzlon Energy said.
Pursuant to the proposed restructuring, $146,200,000 of the principal amount of the 5% April 2016 Bonds will also be substituted by Restructured Bonds on the Settlement Date and $28,800,000 of the principal amount of the 5% April 2016 Bonds will remain outstanding following such substitution, Suzlon Energy said.
Sadbhav Engineering said that the joint venture (JV) led by the company has been awarded the project/work by South West Mining, Barmer, Rajasthan in the name of joint venture known as Sadbhav - Vishnushiva (JV). The contract value is Rs 150 crore. Sadbhav Engineering has 75% share in the JV. The announcement was made after market hours on Wednesday, 9 July 2014.
Powered by Capital Market - Live News
