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Gayatri Projects Ltd’s board of directors will meet on March 20 to evaluate the options of managing the Foreign Currency Convertible Bonds (FCCB) liabilities with the prior consent of the bondholders through various initiatives.
The options such as amending the terms and conditions of the outstanding FCCBs issued on August 2, 2007 including but not limited to tenor, interest rate, yield to maturity, other methods of extinguishing FCCBs, including and not limited to repurchase, redemption, either wholly, partly or in tranches etc., or restructuring of FCCBs in compliance with applicable regulations would be considered at the meeting.
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