Telecom Plus plans to restructure 2% US$6mln e convertible bonds due end-Jun

Telecom Plus (1013) announced to be in talks with BAPEF Investments II Ltd on proposals of restructuring 2% of US$6mln convertible bond issued by the company which is to be due at the end of the month. If the proposal could not be carried out, Telecom Plus will consider raising fund.

The convertible bounds are issued to Baring Asia Investments II B.V., a subsidiary of Baring Asia Private Equity Fund but transferred to BAPEF Investments II Ltd, another subsidiary of Baring Asia Private Equity Fund later. At present Telecom Plus (1013) did not finalize major terms of restructuring convertible bounds yet.

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