Glenmark board to meet this week to consider buyback for Singapore-listed FCCBs

Glenmark board to meet this week to consider buyback for Singapore-listed FCCBs

NEW DELHI: on Tuesday said its board will meet later this week to consider buyback of its Singapore-listed foreign currency convertible bonds (FCCBs).

“…a meeting of the Board of Directors of Glenmark Pharmaceuticals Limited will be held on February 12, 2021, to consider opportunistic tenders or buybacks of any part of its Singapore listed foreign currency convertible bonds, being, its USD 200 million (as on date outstanding USD 113.5 million) 2 per cent resettable onward starting equity-linked securities due June 28, 2022, issued in 2016 (“FCCBonds”)…,” the company said in a regulatory filing.

The operations committee, based on market opportunities and conditions, will hold meetings to consider and approve the terms and conditions of any tenders or buybacks, it added.

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