Strides Arcolab has redeemed the outstanding $80 million FCCBs on due date. In the year 2007, the company had originally raised $1000 million FCCBs and in 2009 had bought back $20 million. It had paid $116 million for redeeming the outstanding bonds including the redemption premium of 45.058%.
Strides Arcolab is a global pharmaceuticals headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceuticals products with an emphasis on sterile injectables.