RCOM buys back $24.7 million FCCBs (India)
May 15, 2009
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Reliance Communications (RCOM) has closed the tender offer for buyback of foreign currency convertible bonds (FCCBs).
The company has bought back FCCBs amounting to $24.7 million of face value from foreign investors for $21 million (at a 15 per cent discount). RCOM had earlier bought back FCCBs with a face value of $40 million in tranches from October 2008 to March 2009.
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