3i Infotech to redeem $277.36 million of convertibles due 2025

By William Gullotti

Buffalo, N.Y., Oct. 25 – 3i Infotech Ltd. said it will redeem the whole of three series of convertibles due 2025 totaling approximately $277.36 million, according to notices issued Monday.

Due to conditions set by an extraordinary resolution adopted May 6, which take effect Nov. 2, the following series will be redeemed on Dec. 2:

• All remaining outstanding $125,356,000 of 2.5% convertibles due 2025 (ISIN: XS0769181982),

• All remaining outstanding $52 million 2.5% convertibles due 2025 (ISIN: XS1423751418) and

• All remaining outstanding $100 million 2.5% convertibles due 2025 (ISIN: XS0308551166).

The company will pay a redemption price equal to par plus accrued interest up to, but excluding, the redemption date.

3i Infotech is a Mumbai, India-based provider of software and information technology solutions.

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