Simbhaoli Sugars cancels $23.11 million of its zero-coupon convertibles due 2011

By Devika Patel

Knoxville, Tenn., May 18 - Simbhaoli Sugars Ltd. informed the Bombay Stock Exchange that it decided to extinguish $23.11 million of its $33 million zero-coupon foreign-currency convertible bonds at a board of directors meeting on May 18.

The bonds were issued on March 10, 2006 and mature on March 11, 2011.

Simbhaoli Sugars is a Simbhaoli, India-based sugar refiner.

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