Hotel Leelaventure redeems outstanding bonds

NEW DELHI: Hotel Leelaventure has redeemed outstanding bonds that have been issued during 2007 and were listed on the Singapore Exchange Securities Trading Ltd.

During April 2007, the firm had issued $100-million zero coupon convertible bonds due this year.

According to an official statement from Hotel Leelaventure, “The outstanding bonds were due for redemption on April 25, 2012. The redemption amount of the outstanding bonds on the redemption date was 146.61 per cent of the principal amount of such bonds and aggregated $60.99 million.”

Moreover, the firm had first repurchased and then cancelled 584 bonds of amount worth $58.4 million.