Firstsource may redeem, extend maturity of or exchange convertibles

By Ashley Montgomery

Kansas City, Kan., Sept. 18 - Firstsource Solutions Ltd. informed the Bombay Stock Exchange that at a meeting Tuesday its board of directors considered redemption and exchange options for its $169.8 million of zero-coupon convertible bonds due Dec. 4, 2012.

The company may choose one or a combination of the following:

• To redeem all or part of the bonds before or on the date of maturity;

• To extend the maturity date; and

• To exchange all or part of the bonds for up to $120 million of new bonds.

The strategy committee of the board will handle the bond options.

Firstsource is a Mumbai-based business services and outsourcing company that operates call centers.

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