Hotel Leelaventure has soared 5% to Rs 32.25 after the company said it has fully redeemed outstanding bonds for $41.6 million that were issued in 2007 and were listed on the Singapore Exchange Securities Trading Ltd
“On May 25, 2012 the company has fully redeemed the outstanding Zero Coupon Convertible Bonds aggregating $41.6 million together with the redemption premium (due on April 25, 2012) along with applicable interest for the delayed period in terms of the offering circular dated April 19, 2007 and as per the approval from Reserve Bank of India,” Hotel Leelaventure said in a filing.
In April 2007, the company had issued $100 million Zero Coupon Convertible Bonds due in 2012.
The stock opened at Rs 32.10 and hit a high of Rs 32.90 on the Bombay Stock Exchange. As many as a combined 118,510 shares have already changed hands on the counter in morning deals, against an average sub 100,000 shares that were traded daily in past two weeks on both the exchanges.