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Future Retail shares close 4% higher after the firm makes interest payment worth $14 million

The company had previously failed to pay the amount of interest due on July 22 on its 5.6 percent 2025 dollar notes.

August 25, 2020 / 09:40 PM IST

Shares of Future Retail closed with a healthy gain of 4.38 percent at Rs 119.25 on BSE on August 25, a day after the company said it has made an interest payment on 5.60 percent Senior Secured Notes.

With this, the stock broke the losing run of the last two consecutive sessions.

Future Retail averted default by making interest payments worth $14 million to investors on August 24. The company fulfilled the paid interest on its 5.6 percent senior secured USD notes due in 2025.

"We are pleased to inform that the company has made the payment of said interest for the half-year ended for an amount of $14 million on above USD Notes," the company said in a BSE filing.