The repayment was funded by way of the Company’s cash reserves augmented with the preferential allotment of shares made to Spen Liq Private Limited and external borrowings.
Commenting on the development Rajesh Subramaniam, Managing Director & Chief Executive Officer said, “We had proactively embarked on several strategies that would enable us to deal with the FCCB situation. The full repayment was the desired outcome and our ability to fulfill this obligation to our bond holders has been achieved. With this financial deleverage of the company, we are now in a stronger position to look ahead and drive strategies to accelerate growth and profitability.”
About Firstsource:
Firstsource (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN) is a leading global provider of customized Business Process Outsourcing (BPO) services to the Healthcare, Telecom & Media and Banking & Financial Services industries. Its clients include Fortune 500, FTSE 100 & Nifty 50 companies. Firstsource has a “rightshore” delivery model with operations in India, Ireland, Philippines, Sri Lanka, UK and U.S. (www.firstsource.com).
