KINGFISHER ALLOTS SHARES TO LENDERS CONSORTIUM

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 4, 2011 14:54

KINGFISHER ALLOTS SHARES TO LENDERS CONSORTIUM

The board of Kingfisher Airlines has alloted preferential shares to a consortium of lenders as part of its debt restructuring programme.

The airline has allotted a total of 139.81 crore compulsorily redeemable preference shares (CRPS) of Rs. 10 face value and a coupon rate of 8% to the lenders’ consortium and its promoter group firms to cover its outstanding loans.

Of which, 75.01 crore CRPS will be issued to the lenders’ consortium, which comprises SBI, IDBI Bank, Punjab National Bank, Uco Bank, United Bank of India, Bank of India, Bank of Baroda, State Bank of Mysore and Jammu & Kashmir Bank. Its promoter group firms will pick up 64.8 crore CRPS.

Kingfisher has also issued 55.31 cumulative redeemable preference shares with a coupon rate of 8% to the lenders’ consortium, and another 9.7 crore compulsorily convertible preference shares at a coupon rate of 7.5%.

A further 7.09 crore optionally convertible debentures of Rs 100 each have been issued to: Star Investments Pvt, Margosa Consultancy Pvt and Redect Consultancy Pvt. 1.99 crore debentures have been issued to Star Investments, over 2.49 crore debentures to Margosa Consultancy Pvt and over 2.59 crore debentures to Redect Consultancy Pvt, according to a filing with the Bombay Stock Exchange.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP January 4, 2011 14:54
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Fkingfisher-allots-shares-to-lenders-consortium%2F"> registered </a> users can comment.