General Announcement::Notice of Closing Date for Settlement of Exchange Offer of FCCBs

Issuer & Securities

Issuer/ Manager
3I INFOTECH LIMITED
Securities
3IINFOTECUS$125.356M5%CB170426 - XS0769181982 - 2CCB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Dec-2016 19:32:38
Status
New
Announcement Sub Title
Notice of Closing Date for Settlement of Exchange Offer of FCCBs
Announcement Reference
SG161201OTHR9JZI
Submitted By (Co./ Ind. Name)
3i Infotech Limited
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Further to our letter dated August 11, 2016, we are pleased to update you that the Company is in receipt of all regulatory approvals that were required as a pre-condition to settle the exchange offer of the Existing Bonds with the new 2.5 per cent convertible bonds due 2025 (the New Bonds ) to the extent accepted by the holders of the Existing Bonds (the Exchange Offer ).
The Company hereby announces Friday, December 9, 2016 as the Closing Date, when the Exchange Offer will be settled in the following manner:
1. Issuance of the New Bonds in exchange for such number of Existing Bonds that have been submitted for exchange by the holders of the Existing Bonds and automatic conversion of a portion of the New Bonds into equity shares of the Company as per the terms of the Exchange Offer; and
2. Amendment of inter alia the following terms and conditions of the Existing Bonds, to the extent not exchanged pursuant to the Exchange Offer, in accordance with the approval of the respective holders of the Existing Bonds:
a) reduction in the principal amount of each Existing Bond by 35 per cent;
b) automatic conversion of 40 per cent of the remaining Existing Bonds into equity shares of the Company;
c) reduction of interest rate to 2.5 per cent per annum on the outstanding principal amount; and
d) extension of maturity period such that one-sixth (1/6th) of the outstanding principal amount of each outstanding remaining Existing Bond (as of March 31, 2020) shall be redeemed on March 31 of each year starting from March 31, 2020 through March 31, 2025.

Attachments

SGX_NoticeOfClosingDate.pdf
5 per cent Bonds - Notice of Closing Date_ Automatic Conversion_ Interest.pdf
Total size =1008K