As rupee wobbles, focus is on FCCBs maturing near term
A sliding rupee could well compound the misery of companies where foreign currency convertible bonds (FCCBs) will be maturing shortly. Already, the stock prices are way below the conversion price, which means holders of the FCCBs will want their principal back, instead of converting their loan into the issuing company’s equity.
January 08, 2012 / 11:48 IST
Anisha Mappat & Riken Mehta
Moneycontrol.com
A sliding rupee could well compound the misery of companies where foreign currency convertible bonds (FCCBs) will be maturing shortly. Already, the stock prices are way below the conversion price, which means holders of the FCCBs will want their principal back, instead of converting their loan into the issuing company
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