Brief: Hotel Leelaventure To Evaluate Restructuring Alternatives

HLV

01/10/2018 14:41

Oct 1 (Reuters) - Hotel Leelaventure Ltd  HTLE.NS :
    * HOTEL LEELAVENTURE LTD -  DEFAULTED IN PAYMENT OF
PRINCIPAL
REDEMPTION AMOUNT OF 225 MILLION RUPEES WHICH WAS DUE ON 30TH
SEPTEMBER, 2018
    * HOTEL LEELAVENTURE-CO'S OPERATING CASH FLOWS ARE NOT
SUFFICIENT
TO SERVICE ITS TERM LOANS AND NCDS
    * HOTEL LEELAVENTURE SAYS FUNDS OF COMPANY ARE ESCROWED WITH
ITS
LENDERS AND INFLOWS AND OUTFLOWS ARE ALSO MONITORED BY LENDERS
    * HOTEL LEELAVENTURE LTD - EVALUATING VARIOUS OPTIONS FOR A
VIABLE
RESTRUCTURING, INCLUDING SALE / MONETIZATION OF NON-CORE ASSETS
ETC

Source text: http://bit.ly/2y4b7PH
Further company coverage:  HTLE.NS 

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