Strides Arcolab bought back $26 million foreign-currency convertibles

By Jennifer Chiou

New York, Feb. 24 - Strides Arcolab Ltd. announced in its report for 2009 that it repurchased a total of $26 million of its foreign-currency convertible bonds during last year.

Recently, the company bought back and extinguished $1.5 million of its $100 million of 0% convertible bonds due 2012 in December in addition to $500,000 of its $40 million of 0.5% convertible bonds due 2010.

The company said it may buy more of the bonds in future purchases.

Strides is a Bangalore, India-based pharmaceutical manufacturing company.

© 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.