Board of Gujarat NRE to decide on issue of $100 mn worth papers
On April 29, the board of Gujarat NRE Coke would consider the proposal to raise a maximum of $100 million or Rs 550 crore, whichever is higher, through securities including Foreign Currency Convertible Bonds. At its meeting in February, the board authorised the company management to issue FCCBs, not exceeding $60 million
GOL Offshore may sell assets to repay loans
Media reports indicate that GOL Offshore may use its unencumbered assets to raise funds for repaying the FCCB, which was due for redemption in October. While the company was to repay the bond holders in October 2012, it sought extension of the repayment period till April, which the bondholders rejected
JSW to finance FCCB buyback through ECB
In order to finance the buy back of outstanding foreign currency convertible bonds (FCCBs) and also to meet investment plans, JSW Steel is in the process of borrowing $275 million through external commercial borrowings (ECBs) at Libor + 4 per cent interest rate per year.
Suzlon plans to raise up to Rs 5k cr
Suzlon Energy has plans to raise Rs 5,000 crore from the secondary market and increase its borrowing limit to Rs 10,000 crore from the present Rs 7,000 crore.
Brigade to tie-up funds worth Rs 750 crore
Brigade Enterprises, American depository receipts (ADRs), foreign currency convertible bonds (FCCBs) or via placement with qualified institutional investors.
Spice Mobiles to raise funds
Spice Mobiles plans to raise Rs 700 crore by sale of shares. The board has approved to raise the funds by issuing foreign currency convertible bonds (FCCBs), global depositary receipts (GDRs) and through private placement of shares with potential buyers.
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