By Kenneth Lim
Boston, April 19 - India's Hotel Leelaventure Ltd. on Thursday priced $100 million of five-year zero-coupon convertible bonds to yield 7.8% with an initial conversion premium of 49.5%.
There is an over-allotment option for an additional $10 million.
Deutsche Bank was the bookrunner of the Regulation S offering.
The convertibles have an initial conversion price of Rs. 90 per share.
Hotel Leelaventure, a Mumbai, India-based owner of luxury hotels and resorts, did not say how it will use the proceeds of the deal.
| Issuer: | Hotel Leelaventure Ltd.
|
| Issue: | Convertible bonds
|
| Bookrunner: | Deutsche Bank
|
| Amount: | $100 million
|
| Greenshoe: | $10 million
|
| Maturity: | 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 7.8%
|
| Conversion premium: | 49.5%
|
| Conversion price: | Rs. 90
|
| Pricing date: | April 19
|
| Distribution: | Regulation S
|
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