Buyback/Prepayment of Foreign Currency Convertible Bonds (FCCBs)

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..... s) Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P.(DIR Series) Circular No. 39 dated December 8, 2008 and A.P. (DIR Series) Circular No. 58 dated March 13, 2009 on the captioned subject. In terms of Para 4 B of A.P (DIR Series) Circular No. 39 dated December 8, 2008 , Reserve Bank has been considering proposals from Indian companies for buyback of F .....

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..... ccruals, with the prior approval of the Reserve Bank, subject to a: i) minimum discount of 25 per cent of book value for redemption value up to USD 50 million; ii) minimum discount of 35 per cent of book value for the redemption value over USD 50 million and up to USD 75 million; and iii) minimum discount of 50 per cent of book value for the redemption value of USD 75 million and up to USD .....

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