Aarvee Denims & Exports Ltd redeems 0% Coupon Foreign Currency Convertible Bonds

Aarvee Denims & Exports Ltd has redeemed 0% Coupon Foreign Currency Convertible Bonds (FCCBs) having face value of US$ 4 million with YTM/ redemption premium @ 48.02%, in accordance with the terms of issue. The Company is in receipt of letter dated April 18, 2012 from Bank of New York Mellon Singapore (The trustee) to the issue of such FCCBs confirming that the Bonds are fully redeemed and there is nil outstanding on this account.

Further with such redemption there is no bonds / securities issued by the company having convertibility option.

The Aarvee Denims & Exports Ltd stock closed the day at Rs.35.35, up by Rs.1.35 or 3.97%. The stock hit an intraday high of Rs.35.50 and low of Rs.35.35.

The total traded quantity was 6 compared to 2 week average of 639.

Source : Equity Bulls

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