Mah&Mah - Redemption of FCCBs

Posted By: Religare
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With reference to the earlier announcement dated October 08, 2010, Mahindra & Mahindra Ltd has now informed BSE that the Company had in April, 2006 issued 2000 Foreign Currency Convertible Bonds (due 2011) of US $1,00,000 each ('FCCBs') aggregating US$ 200 million.

Out of the total FCCBs aggregating US$ 200 million, the Company had repurchased FCCBs aggregating US$ 10.5 million at a discount in the year 2008-2009 and FCCBs aggregating US$ 188.4 million have been converted into shares / GDRs.

Further the Company has inform that the Company has on November 08, 2010 redeemed the outstanding FCCBs aggregating to US$ 1.1 million through The Bank of New York; Depositary, Trustee and Principal Paying Agent, Conversion Agent and Transfer Agent for FCCBs.

With Early Redemption of FCCBs as aforesaid, no FCCBs remain outstanding.

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