| Fortis Healthcare, the second-largest Indian hospital chain by revenues, has redeemed $100 million worth of outstanding foreign currency convertible Bonds (FCCBs) listed on the Luxembourg Stock Exchange, a report said.
The report by VCCircle said these FCCBs were purchased by Singapore sovereign wealth fund GIC in May 2010. These bonds were optionally convertible at Rs 167 ($2.63) per share with a yield-to-maturity of 5.537 per cent per annum. As of May 2015, Fortis maintains a market capitalisation of $1.23 billion, according to a Reuters quote...............................................Full Article: Source
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