Rolta seeks to buy back bonds via tender
22 Jun 2009
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Mumbai-based IT solutions firm Rolta India has made a tender offer to buy back $150 million zero coupon convertible bonds. The bonds, due in 2012, will be repurchased for cash. The company will determine a single clearing price which will allow it to repurchase the aggregate repurchase amount.
The bonds will be repurchased in the form of a Dutch auction, with bondholders being invited to tender their bonds at a price not less than 78 per cent and not exceeding 85.50 per cent of each nominal amount of $1,000 of bonds.
The offer opens on 22 June 2009 and will expire on 25 June 2009.
