Brief: Hotel Leelaventure Defaults In Payment Of Qtrly Interest

HLV

20/09/2018 05:12

Sept 20 (Reuters) - Hotel Leelaventure Ltd  HTLE.NS :
    * SAYS CO DEFAULTED IN PAYMENT OF QTRLY INTEREST OF 21.
MILLION
RUPEES WHICH WAS DUE ON 19 SEPTEMBER, 2018
    * CO'S OPERATING CASH FLOWS NOT SUFFICIENT TO SERVICE ITS
TERM
LOANS
    * SAYS FUNDS OF COMPANY ARE ESCROWED WITH ITS LENDERS AND
INFLOWS
AND OUTFLOWS ARE ALSO MONITORED BY LENDERS
    * SAYS CO EVALUATING OPTIONS FOR VIABLE RESTRUCTURING

Source text - http://bit.ly/2PKGGoA
Further company coverage:  HTLE.NS 

 ((Reuters.Briefs@thomsonreuters.com;))