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Vascon Engineers informs about term sheet for issue of non convertible debentures

09 Sep 2015

Vascon Engineers has informed that the Company has entered into a term sheet with holders of Inter Corporate Deposits (ICD Holders) to convert existing loans of ICD Holders to an extent of Rs 68.61 crores, in to the Non Convertible Debentures (NCDs) at a zero coupon rate, with a redemption premium up to 14% per annum, which shall be based on the net sale proceeds of the securities provided by the Company.

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

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