Pokarna Ltd has informed BSE that the Company has paid a negotiated price of US $ of 2.405 to redeem 3700 units constituting a total face value of US $ 3.7 million by remitting the consideration to the Bondholder in pursuance to their letter dtd. December 28, 2012. For the purpose, the Company has partially utilized funds obtained by way of External Commercial Borrowing from Union Bank of India, Hong Kong branch.Further the Company noted that, the Company had issued Zero Coupon Foreign Currency Convertible Bonds aggregating to US $ 12 million in March 2007 which was due for redemption on March 29, 2012.With the above partial redemption, Company's units' outstanding position would stand reduced to 8300 units with face value of US $ 8.3 Million.Source : BSE
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Pokarna partially redeems zero coupon FCCBs worth USD 3.7mn
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