Vi extends redemption of 1st tranche of OCDs issued to ATC to 18 months, post-allotment date
Vodafone Idea (Vi) has extended the redemption period of 8,000 optionally convertible debentures (OCDs) – out of the Rs 16,000 OCDs issued to American Tower Corp’s India unit (ATC Telecom Infrastructure Pvt Ltd) – to 18 months from the allotment date, instead of the earlier six-month deadline.
“The company and ATC have agreed to extend the period of redemption of 8,000 OCDs from 6 months, from the date of allotment of first tranche of OCDs (which was falling due on 28th August, 2023), to 18 months from the date of allotment, subject to certain conditions as mutually agreed,” Vi said in an exchange filing Monday morning.
Last month, Boston-based ATC had informed the US Securities and Exchange Commission (SEC) that Vi’s OCDs would mature in two tranches of Rs 800 crore each on August 27, 2023 and August 27, 2024. That has now changed.
Earlier in Febuary 2023, Vi had allotted OCDs worth Rs 1,600 crore to ATC TIPL against its dues.
