Plethico plans to revise terms of its foreign currency convertibles, may plan redemption

By Devika Patel

Knoxville, Tenn., June 3 - Plethico Pharmaceuticals Ltd. informed the Bombay Stock Exchange that it approved plans to revise the terms of its foreign currency convertible bonds at an extraordinary general meeting on Friday.

The securities were issued in October 2007, and the company may amend the bonds' tenor, interest rate and yield to maturity, as well as evaluate plans to redeem or repurchase the convertibles.

Plethico is a Mumbai, India-based pharmaceuticals firm.

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