Aurobindo Pharma redeems Zero Coupon Foreign Currency Convertible Bonds (FCCBs) issued in May 2006. The company had issued FCCBs aggregating to $150 million (Tranche A) and after repurchase and cancellation of FCCBs from time to time, the outstanding nominal value of FCCBs of $106.25 million has been paid in full at the redemption price of 146.285% of its principal amount on maturity date - May 17, 2011 as per the terms and conditions of the offering circular dated May 12, 2006.
Further, Aurobindo Pharma had issued FCCBs aggregating to $50 million (Tranche B) and after repurchase and cancellation of FCCBs from time to time, the outstanding nominal value of FCCBs of $32.95 million has been paid in full at the redemption price of 146.991% of its principal amount on maturity date - May 17, 2011 as per the terms and conditions of the offering circular dated May 12, 2006.
The company has paid an aggregate amount of $203.86 million for both aforesaid tranches at the time of redemption. Pursuant to this all bonds issued by the company in May 2006 have been extinguished in full and there are no outstanding as on date.
Aurobindo Pharma is the market leader in semi-synthetic penicillin drugs. It has presence in key therapeutic segments like SSPs, cephalosporins, anti-retrovirals, CNS, cardio-vascular, gastroenterology, etc.
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