South Asian Petrochem buys another $5 million of 0% convertible bonds

By Devika Patel

Knoxville, Tenn., Nov. 5 - South Asian Petrochem Ltd. informed the Bombay Stock Exchange that it repurchased another $5 million of its $20 million of zero-coupon unsecured foreign currency convertible bonds.

As previously reported, the company said on Oct. 26 that it had bought back $7.5 million of the convertibles.

Based in Kolkata, India, South Asian Petrochem is a manufacturer of bottle-grade polyethylene terephthalate resin.

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