Aksh Optifibre fails to repay bonds, talking restructuring/settlement

By Caroline Salls

Pittsburgh, Jan. 9 - Aksh Optifibre Ltd. is in talks with bondholders for a settlement/restructuring of $20 million of foreign currency convertible bonds after failing to repay the principal amount of the bonds on the Jan. 8 maturity date, according to a news release.

Out of the 2008 issuance, $7 million of the bonds was converted into equity shares, leaving $13 million outstanding.

Based in Haryana, India, Aksh Optifibre manufactures and exports optic fiber cables.

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