Helios and Matheson Information Technology have successfully redeemed the outstanding Foreign Currency Convertible Bonds (FCCBs) of $15,600,000 together with redemption premium, totaling to $21,669,605.01. Following the payment, the entire FCCB liability has been extinguished. The company has made the repayment as per schedule, in line with the terms and conditions of the FCCB Instrument, underlining the company’s strong fundamentals.
The company had issued FCCBs worth $25 million, in July 2006, including an over-allotment option of $5 million 2% Foreign Currency Convertible Bonds due July 2011. After conversions and buy back totaling to $9.4 million over the last 5 years, the outstanding FCCBs have been fully redeemed now.
Helios & Matheson Information Technology provides services including application management, business and technology consulting, application outsourcing, business process outsourcing services, offshore delivery and project management. It caters to the Banking/Finance, Insurance, Manufacturing, Healthcare, Entertainment, Knowledge and Software, Utilities and Energy, Logistics and Transportation, Retail/Wholesale Distribution and Electronics and communications industry.
