Lodha Developers International Limited successfully raises USD 200 million

Lodha Developers International Limited, a wholly owned subsidiary of Macrotech Developers Limited, today announced the closure of its USD bond issue. The company raised USD 200 million in Senior Secured Notes due on 2023. The Company would use the proceeds of the Issue to fully repay its outstanding USD 324 million Senior Notes due on March 13, 2020. In addition to raising USD 200 million, the Company had earlier raised GBP 86 million (INR 800 crores) in the UK. With these proceeds and additional cash flows from the Company’s UK and India businesses, Lodha Developers is fully committed to closing its maturing bond payments. “We closed the bond raise of USD 200 million with leading global investors. Several existing investors increased their position. Bankers to the deal were JP Morgan, UBS and CLSA.” said Abhishek Lodha, MD & CEO, Macrotech Developers Limited.