General Announcement::Settlement of Exchange Offer of Series B FCCBs

Issuer & Securities

Issuer/ Manager
GTL INFRASTRUCTURE LIMITED
Securities
GTL INFRA US$111.74M ZCB171109 - XS0854042537 - 2MDB
GTL INFRA US$207.546M FC171109 - XS0854044822 - 2MEB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
30-Oct-2017 22:01:27
Status
New
Announcement Sub Title
Settlement of Exchange Offer of Series B FCCBs
Announcement Reference
SG171030OTHR4T4F
Submitted By (Co./ Ind. Name)
Nitesh A. Mhatre
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This is in reference to the captioned subject and our previous disclosures in this regard.

We are pleased to inform you that pursuant to approval of the holders of existing Interest Bearing Convertible Bonds ( Existing Series B Bonds ) issued by the Company and the approval from the Reserve Bank of India, the Company has successfully completed the exchange of Existing Series B Bonds with Series B1 Bonds, Series B2 Bonds and Series B3 Bonds ( New Bonds ) in its efforts to reduce its debt to sustainable levels.

Pursuant to the Exchange Offer, the Company has issued New Bonds in following manner:

Particulars USD
Series B 1 Bonds Zero Coupon Compulsorily Convertible 2022 80,745,000
Series B 2 Bonds Interest Bearing Optionally Convertible 2022 86,417,000
Series B 3 Bonds Zero Coupon Compulsorily Convertible 2022 30,078,000

The New Bonds are listed on Singapore Exchange Securities Trading Limited today.

Post completion of the said Exchange Offer, the unsecured debt held through optionally convertible bonds now stands reduced from USD 207.54 million in 2012 to USD 86.4 million as Series B1 Bonds and Series B3 Bonds are Compulsorily Convertible Bonds.

For GTL Infrastructure Limited


Nitesh A. Mhatre L. Y. Desai
Company Secretary Chief Financial Officer