Videocon to solicit consents to amend 4.3% bonds at July 22 meeting

By Marisa Wong

Morgantown, W.Va., July 6 – Videocon Industries Ltd. said it will convene a bondholders’ meeting on July 22. The company will solicit consents from holders of its $97.2 million 4.3% convertible bonds due 2020 to approve an extraordinary resolution presented at the meeting.

If passed, the extraordinary resolution would, among other things, amend the bonds’ trust deed to change the put option date to Dec. 30, 2016.

The amendments are subject to approval from the Reserve Bank of India.

DB Trustees (Hong Kong) Ltd. is the trustee for the bonds.

Videocon is a diversified manufacturing company based in Mumbai. Its core products are consumer electronics and home appliances.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.