Private telecom operator Reliance Communications (RComm) today said is has redeemed convertible bonds worth USD 500 million that were issued in May, 2006.
"The company has redeemed all outstanding Zero Coupon Foreign Currency Convertible Bonds (FCCBs) by making payment on due date (May 9, 2011)," the telecom service provider said in a filing to the Bombay Stock Exchange.
Pursuant to the payment, the company now would not be required to allot 2,74,13,085 equity shares of Rs 5 each arising out of conversion of the said FCCBs. Shares of Reliance Communications were trading at Rs 91.20 on the BSE, up 1.96 per cent from the previous close.
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