Subex seeks holder approval to push back maturity of 5% convertibles

By Marisa Wong

Madison, Wis., Feb. 13 - Subex Ltd. is proposing to extend the maturity date of its $98.7 million 5% convertible bonds to July 9, 2012 from March 9, 2012, according to a notice to the Singapore Exchange Securities Trading Ltd.

Bondholders will vote on the extraordinary resolution at a meeting to be held on March 6.

Currently, $54.8 million principal amount of the bonds remains outstanding.

The Bank of New York Mellon, London Branch is the trustee for the bonds.

Subex provides operations support systems and is based in Bangalore, India.

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