Pokarna redeems $3.7 million of foreign currency convertible bonds

By Ashley Montgomery

Kansas City, Kan., Jan. 3 - Pokarna Ltd. informed the Bombay Stock Exchange that it redeemed $3.7 million of its zero coupon foreign currency convertible bonds.

The company said it funded the redemption with external commercial borrowings from the Union bank of India.

Following the redemption, $8.3 million of the bonds remain outstanding.

Pokarna is an Andhra Pradesh, India-based granite mining company.

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