As part of debt restructuringGTL 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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