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FCCB ylds: Subex, GTL Infra may default

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SummaryMoser Baer, Subex, GTL Infra and Plethico have high probability of default, Kotak said.

Foreign currency convertible bond (FCCB) redemptions are seen surging in 2012, said Kotak Institutional Equities in a note.

Moser Baer, Subex, GTL Infrastructure and Plethico Pharma have high probability of default, it said.

Yields-to-maturity of these FCCBs are ranging from 106 percent to 439 percent, the report said.

While GTL Infrastructure and Subex have constituted committee to explore loan recast, Moser Baer and Plethico Pharma are yet to come out with a plan for the outstanding amounts scheduled to mature in June and October, respectively.

Company INFO More on Moser Baer

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