Suntel wants to buy back Rs 300 mn of its 750mn high yielding medium term debentures, which yield in excess of 22 percent per annum.
The wireless operator issued Rs 1 bn worth of debentures in five, six and seven year maturities yielding 22.00 percent, 22.25 percent and 22.5 percent.rn
rnNow Suntel wants to buy back Rs 300 mn of its Rs 1000 par debentures at a premium price of Rs. 1,270 Rs. 1,346 and Rs 1,416.rn
rnThe high yielding debentures were issued at a time when two-year treasuries were yielding in excess of 20 per cent.rn
-LBO Newsdesk: LBOEmail@vanguardlanka.comrn