Subex Ltd.

Subex has launched new foreign currency convertible bonds (FCCBs) worth $131 million at 5.7 percent due July 2017, in relation to outstanding $180 million 2 percent FCCBs due July 9, 2012 and $98.7 million 5 percent FCCBs due July 9, 2012.

The company’s board has adopted the floor price in respect of the conversion of the new FCCBs, based on the pricing formula as prescribed by the Ministry of Finance, Government of India, pursuant to its circular dated November 27, 2008, amending the FCCB scheme, as Rs 22.79 (Floor Price) per equity share of Rs 10 each of the company and has taken note that the relevant date for this purpose is June 13, 2012.

In May, the RBI approved the restructuring proposal of its FCCBs involving a combination of debt and equity.

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.