Aurobindo clears all outstanding FCCBs for 600 crore

NEW DELHI: Aurobindo Pharma on Wednesday said it has paid $139.2 million (over 600 crore) for the redemption of outstanding overseas bonds issued in 2006.

With the latest payout, the company has now paid an aggregate amount of $203.86 million for redemption of two tranches of foreign currency convertible bonds ( FCCBs) issued in May, 2006, Aurobindo Pharma said in a filing to the BSE.

"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," it added.

After the 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 the principal amount on the maturity date, it said. The company had issued FCCBs aggregating to $150 million in one tranche, dubbed Tranche A, on May 12, 2006.