3i Infotech to begin talks to refinance $133 million of foreign currency convertible bonds as part of a debt restructuring
According to media reports 3i Infotech will soon begin talks to refinance $133 million of foreign currency convertible bonds ( FCCBs) as part of a debt restructuring.
The company has sought to restructure loans of about $260 million. The company has already approved a corporate debt restructuring. As part of the restructuring, interest on the loans and about 15 percent of secured debt will be converted into equity.
Lenders are expected to consider the proposal and take a decision before March 14, 2012.
....more info
According to media reports 3i Infotech will soon begin talks to refinance $133 million of foreign currency convertible bonds ( FCCBs) as part of a debt restructuring.
The company has sought to restructure loans of about $260 million. The company has already approved a corporate debt restructuring. As part of the restructuring, interest on the loans and about 15 percent of secured debt will be converted into equity.
Lenders are expected to consider the proposal and take a decision before March 14, 2012.
....more info