NEW DELHI: Reliance Infrastructure on Saturday said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis. Reliance Infrastructure in a BSE filing also said that Sandeep Khosla has been appointed as Chief Financial Officer (CFO) of the company.
"We hereby inform you that the Board of Directors of the Company has authorised the issue of up to USD 100,000,000 unsecured foreign currency convertible bonds maturing in 2031 (FCCBs) with a coupon rate of 4.5 per cent on private placement basis.
"The FCCBs shall be convertible into equity shares of Rs 10.00 each of the Company in accordance with the terms of the FCCBs, at a price of Rs 111 (including a premium of Rs 101) per equity share," it said. The company will issue bonds within 30 days from the Issue closing date and the decision was taken by the board in a meeting on Saturday.