Bajaj Hindusthan has redeemed the Foreign Currency Convertible Bonds (FCCBs) held by International Finance Corporation (IFC), Washington. The company had issued FCCBs aggregating to $15 million to IFC.
The company has made repayment of an aggregate amount of $17.723 million, including the redemption premium of $2.723 million on the due date i.e. June 16, 2014 in accordance with the terms and conditions of the said FCCBs. With the aforesaid repayment, entire outstanding FCCBs held by IFC, Washington stands redeemed on maturity.
Bajaj Hindusthan, a part of the 'Bajaj Group’, is one the largest sugar manufacturing companies in Asia and also the largest industrial alcohol manufacturers in India. It is engaged in sugar manufacturing, distillery operations and bagasse-based power generation.
