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GTL Infrastructure proposes to issue FCCBs

Capital Market 

As part of debt restructuring

Infrastructure has proposed exchange of existing Interest Bearing Convertible Bonds due 2017 with freshly issued FCCBs. The proposed exchange of bonds has received the approval of the lenders of the Company as part of strategic debt restructuring scheme. The proposed exchange of bonds is subject to receipt of further statutory approvals. Upon completion of the aforesaid process, the unsecured debt held through optionally convertible bonds will stand reduced from Rs 1441.69 crore as on 31 March 2017 to approx. Rs 655 crore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 15:54 IST