MUMBAI, INDIA: Reliance Communications, India’s largest integrated telecom service provider, has made payment of $1,182 million (Rs.5,825 crore at the US$ exchange rate of Rs.49.30) to make the largest ever redemption of all the outstanding Foreign Currency Convertible Bonds (FCCBs) from the $1,000 million issued in February, 2007 and due on March, 01, 2012. Redemption amount is inclusive of the premium of 27.69 percent.
The company has made payment to the Principal Agent of FCCB – Deutsche Bank AG, London Branch. The paid up equity capital of the Company will remain unchanged post redemption of these FCCBs. Accordingly, Reliance Communications will be not required to allot 6,17,25,849 equity shares of Rs. 5 each arising out of the potential conversion of said FCCBs.