Subex has successfully completed the FCCB exchange offer post approval from about 97% of the bond holder in value. The company has issued new secured bond worth $127.721 million with a maturity period due July 2017 with a conversion of Rs 22.79 per shares at an interest of 5.70%, of which bond worth $36.321 million will be mandatorily converted into equity shares at the aforesaid conversion price of Rs 22.79 per share. Also, the maturity period of the un-exchanged existing bond worth $3.40 million now stands extended to March 2017.
Subex is a leading global provider of business support systems that empowers communication service providers to achieve competitive advantage through Business Optimization-thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
