Orchid Chemicals buys bonds worth $19.77 mn

Orchid Chemicals & Pharmaceuticals has purchased bonds at an aggregrate face value of $19.77 million (around Rs 90 crore), the company said in a filing to the National Stock Exchange (NSE). Earlier this month the company had said that it is exploring opportunities for the buyback of its outstanding foreign currency convertible bonds (FCCBs). Currently, the firm has a debt of about Rs 1,200 crore, besides a liability of $155 million in FCCBs, which would mature in 2012. The company also has a tax liability of $20 million.