TARC receives funding from Bain Capital

TARC, a real estate development business based in North India, has raised Rs.13.30 bn from Bain Capital in the US. Bain Capital Credit provided the cash in the form of secured long-term NCDs. TARC has used a portion of the freshly injected cash to retire all of its previous debt with several domestic lenders, achieving the twin goals of lowering the cost of capital and replacing short-term debt with patient long-term capital. This cash would be used to expand the company, maintain its recent growth rate and to develop TARC's notable New Delhi centric property parcels intended for residential development and other landholdings strategically positioned in the satellite town of Gurgaon.

Contact: TARC

Tel: 011-4124 4300/44

Website: www.tarc.in