3i Infotech informs about outcome of FCCB committee meeting

3I Infotech Ltd. | IT - Software | IT & ITES | BSE: 532628 | NSE: 3IINFOLTD

06 Jul 2016 Evaluate

3i Infotech has informed that as recommended by the Board of Directors of the Company (the ‘Board’) in its meeting dated February 11, 2016, the FCCB Committee of the Board at its meeting held on July 05, 2016 has approved the Issuance of foreign currency convertible bonds of up to $ 52,000,000 (‘New Bonds’) to the existing bondholders of the Company, in exchange for the existing foreign currency convertible bonds, i.e., $ 125,356,000 5 per cent, convertible bonds due 2017 (the ‘5% Bonds’) and $ 2,435,000 4.75 per cent, convertible bonds due 2017 (the ‘4.75% Bonds’, and together with the 5% Bonds, the ‘Existing Bonds’); and Amendment to the terms of the Existing Bonds (to the extent not exchanged pursuant to the exchange offer). The New Bonds will be listed on Singapore Exchange Securities Trading and the FCCB Committee has decided to open the Issue on July 05, 2016. The floor price for the conversion of the bonds shall be Rs 10 (the face value). The Company has also issued notices to convene a meeting of the holders of the Existing Bonds on July 27, 2016 for approving the aforesaid amendments to the terms of the Existing Bonds.

The above information is a part of company’s filings submitted to BSE.