Leelaventure redeems bonds worth $41.6 mn

“...on May 25, 2012, the company has fully redeemed the outstanding Zero Coupon Convertible Bonds aggregating $41.6 million together with the redemption premium, along with applicable interest for the delayed period,” Hotel Leelaventure said in a filing to the BSE.

In April 2007, the company had issued $100 million Zero Coupon Convertible Bonds due in 2012. "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% of the principal amount of such bonds and aggregated to $60.99 million,” the company said.