Welspun, the second largest line-pipe company in the world, has completed a part buyback of the 4.50 percent FCCBs due in 2014, it said in a statement. The company has been able to buy these bonds at a net value of USD 94,000 per bond, reflecting a 7.5 percent discount on the accreted value of USD 101,600 per bond, it said.
This buyback was funded by new foreign currency loan with an average maturity of 5 years. After accounting for this repurchase, convertible bonds worth USD 105.9 million remain outstanding and due for maturity by October, 2014. "Besides reducing the potential equity dilution, bond repurchase further reposes the confidence in the business model and will boost the profitability going forward," the release said.
Welspun Corp is a one-stop service provider offering complete pipe solutions with a capability to manufacture line-pipes. With current capacity of 2.2 million tonnes per annum from facilities at Dahej and Anjar in Gujarat, Little Rock in the USA and Saudi Arabia, Welspun is a preferred supplier to most of the Fortune-100 oil and gas companies.
Anda sedang membaca artikel tentang
Welspun Corp buys back $44.1-m FCCBs
Dengan url
http://gayafashionshow.blogspot.com/2012/10/welspun-corp-buys-back-441-m-fccbs.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Welspun Corp buys back $44.1-m FCCBs
namun jangan lupa untuk meletakkan link
Welspun Corp buys back $44.1-m FCCBs
sebagai sumbernya
0 komentar:
Posting Komentar