Rolta India Ties up Overseas Debt to Buy Back Outstanding Bonds
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Rolta India Stock News, Analyst Calls And Reviews
IT firm Rolta India has tied up funding of USD 135 million via external commercial borrowings (ECB) to repurchase and or cash in its Zero Coupon Foreign Currency Convertible Bonds (FCCB) due on June
29.
With the funding in position, Rolta said it has launched an offer to repurchase all outstanding FCCB with a face value of $96.69 million and redemption cost of $134.78 million.
The firm had already bought back a section of the original FCCB issue of $150 million during June and December 2009.
The collective face value of all repurchase of FCCB till date stood at $53.31 million.
The firm tries to repurchase the FCCB through a tender route and the offer shall stay open till March 28.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
Rolta India Ties up Overseas Debt to Buy Back Outstanding Bonds
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