MakeMyTrip Announces Repurchase Right Notification For 0.00% Convertible Senior Notes Due 2028
Portfolio Pulse from Benzinga Newsdesk
MakeMyTrip (MMYT) has notified holders of its 0.00% Convertible Senior Notes due 2028 about their right to require the company to repurchase the Notes on February 15, 2024, and February 15, 2026. These dates are approximately three and five years after the initial issuance of the Notes, as per the terms of the Indenture with The Bank of New York Mellon, trustee.
January 18, 2024 | 7:33 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
MakeMyTrip has announced the repurchase right for its 0.00% Convertible Senior Notes due 2028, allowing holders to require repurchase on specified dates.
The announcement of a repurchase right is a routine corporate action and does not necessarily indicate a change in the company's financial health or outlook. It is part of the original terms of the notes and is likely already factored into the investment decisions of note holders. Therefore, the short-term impact on the stock price is expected to be neutral.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100