30 Oct 2009 11:06
SUBEX LIMITED CONFIRMS RESULT OF EXCHANGE OFFER FOR ITS OUTSTANDING US$180 MILLION 2.00% COUPON CONVERTIBLE UNSECURED BONDS DUE 2012.
Mumbai, 30 October 2009 - Subex Limited (the "Company") has today published the following announcement:
"Further to the Company's announcement dated 25 September 2009 of its exchange offer (the "Exchange Offer") to holders of its outstanding US$180,000,000 2.00 per cent. convertible unsecured bonds due 2012 (the "Existing Bonds"), and its subsequent announcements relating to the Exchange Offer dated 2 October 2009, 7 October 2009 and 8 October 2009:
1. The aggregate principal amount of Existing Bonds offered in the Exchange Offer was U.S.$141,000,000 (the "Exchanged Bonds");
2. The aggregate principal amount of Exchanged Bonds that are accepted by the Company in the Exchange Offer is U.S.$141,000,000 and the aggregate principal amount of New Bonds that will be issued by the Company in exchange for the Exchanged Bonds is U.S.$98,700,000;
3. The New Bonds will be issued and the Exchanged Bonds will be cancelled on or around 2 November 2009.
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THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY IN THE UNITED STATES OR IN ANY OTHER JURISDICTION, AND NONE OF THE SECURITIES TO BE ISSUED PURSUANT TO THE EXCHANGE OFFER, IF CONSUMMATED, MAY BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR IN ANY OTHER JURISDICTION WHERE SUCH SALE IS PROHIBITED. THE COMPANY DOES NOT INTEND TO REGISTER ANY OF THE SECURITIES TO BE ISSUED PURSUANT TO THE EXCHANGE OFFER IN THE UNITED STATES.