India’s Lodha Developers plans to issue up to $225 million of notes

By Rebecca Melvin

New York, Jan. 21 – India’s Lodha Developers International Ltd. said it plans to issue up to $225 million of notes, according to a market notice.

The proceeds will be used to refinance a part of its outstanding $324 million 12% senior notes due March 13, 2020.

The company said it has entered into discussions with certain holders of the existing notes regarding the refinancing and potential terms of the new notes, which would be guaranteed by parent holding company Macrotech Developers Ltd. and secured by a charge on the equity value of the 1 Grosvenor Square project.

The real estate developer is based in Mumbai.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.