The city-headquartered company settled USD 97.20 million plus applicable interest and costs in cash, and the rest USD 97.20 million was exchanged into a new FCCB facility at 4.30 percent interest, its advisors Shardul Amarchand Mangaldas and Co said in a statement.

The company had raised the money in December 2010 at an interest of 6.75 percent which was due in December 2015, it said.

The newly-issued 'exchange bonds' are secured by way of pledged shares of Videocon Telecommunications by certain Videocon Group entities, and personal guarantees by two of the promoters, it added.

Like the earlier bonds, the exchange bonds are also listed on the Singapore Stock Exchange, it said, adding the Swiss brokerage Credit Suisse acted as the sole book-runner for the transaction.

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