BPO service provider Firstsource Solutions has fully repaid its outstanding foreign currency convertible bonds worth $237 million. The FCCBs were due on December 4, 2012.
“We had proactively embarked on several strategies that would enable us to deal with the FCCB situation. The full repayment was the desired outcome and our ability to fulfil this obligation to our bondholders has been achieved,” Firstsource Solutions Managing Director and Chief Executive Officer Rajesh Subramaniam said.
“We are now in a stronger position to look ahead and drive strategies to accelerate growth and profitability,” he added.
The repayment was funded by cash reserves that augmented with the preferential allotment of shares made to Spen Liq and external borrowings, it said in a statement.