Press Releases

PDF document (112 kb)
Date : Jul 04, 2011
Redemption of Foreign Currency Convertible Bonds (FCCBs)

Keeping in view the need to provide a window to facilitate refinancing of FCCBs by the Indian companies who may be facing difficulty in meeting the redemption obligations, the Reserve Bank, in consultation with the Government of India, has decided to allow the Indian companies to refinance/ restructure the outstanding FCCBs issued by them. Accordingly, Indian companies are permitted to raise fresh ECB/FCCB as per the extant ECB guidelines under the automatic route to refinance their outstanding FCCBs. Restructuring of FCCBs involving change in the existing conversion price is not permissible. Proposals for restructuring of FCCBs not involving change in conversion price will, however, be considered under the approval route depending on the merits of the proposal. Detailed instructions are contained in A. P. (DIR Series) Circular No.01 dated July 04, 2011 issued by the Reserve Bank of India.

Ajit Prasad
Assistant General Manager

Press Release : 2011-2012/19

Related Notification

July 4, 2011

Redemption of Foreign Currency Convertible Bonds (FCCBs)


2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
Archives
Top