State Bank of India returns money to bondholders early
Distributors said SBI had raised Rs 2,000 crore through these bonds, which had a face value of 10,000 per bond.
Synopsis
In 2011, the bonds paid a high interest rates when most bank deposits of up to two-year tenures were fetching annual returns of 8-9 per cent. Those who held the bonds in demat form did not have to pay any TDS. Investors lapped up such bonds as they paid a high interest for a tenure of 10 years.
Mumbai: The State Bank of India (SBI) has returned the money it raised 10 years ago from retail investors through bonds ahead of schedule. Investors, who put money into the 15-year SBI Retail Bonds in March 2011 that paid an interest rate of 9.95 per cent annually, have got their investments back after the country’s biggest lender exercised the call option in the 10th year, allowing it to return the funds prematurely.
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Vistra ITCL, the trustee for bond holders constituting 96% of RCL’s debt, has written to the Reserve Bank of India (RBI), urging the regulator to invoke its special powers under the Insolvency and Bankruptcy Code and refer the financial company to the National Company Law Tribunal (NCLT).
Santhera Pharmaceuticals Holding AG: Santhera Announces Results of Bondholders Meeting
Pratteln, Switzerland, March 9, 2021 - Santhera Pharmaceuticals (SIX: SANN) announces
that while a large majority of 89 % of bondholders represented at yesterday s bondholders meeting voted in favor of the resolutions proposed by the Company, the required threshold of 2/3 of all bonds outstanding to pass such resolutions was not met. Bondholders may still cast their vote for the resolution that would enable a restructuring of the CHF 60 million 5% Convertible Bonds due 2022.
A total principal amount of CHF 39,130,000 (65%) of the bonds was represented at the meeting and thereof CHF 34,775,000 or 89% voted in favor of the resolution. However, these votes in favor, representing 58% of the total bonds outstanding did not meet the required threshold of 2/3 (or CHF 40 million) for the resolution to be passed. Bondholders who have not yet cast a vote may still do so within a period of a maximum two
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