Reliance Infra to raise Rs 750 crore through FCCBs
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Reliance Infrastructure on Saturday said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a personal placement basis.
Reliance Infrastructure during a BSE filing also said that Sandeep Khosla has been appointed as Chief treasurer (CFO) of the corporate .
“We hereby inform you that the Board of Directors of the corporate has authorised the difficulty of up to USD 100,000,000 unsecured foreign currency convertible bonds maturing in 2031 (FCCBs) with a coupon rate of 4.5 percent on private placement basis.
“The FCCBs shall be convertible into equity shares of Rs.10.00 each of the corporate in accordance with the terms of the FCCBs, at a price of Rs 111 (including a premium of Rs 101) per equity share,” it said.
The company will issue bonds within 30 days from the difficulty deadline and therefore the decision was taken by the board during a meeting on Saturday.
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