Macrotech to repay  $170 mn offshore bonds in next week
Real Estate

Macrotech to repay $170 mn offshore bonds in next week

Lodha Group, which is listed as Macrotech Developers, is ready to repay their offshore bonds of $170 million or approximately Rs 1,286 crore in the next week, which puts them almost a year ahead of their scheduled maturity of the bonds in March 2023.

The bonds fall under the $225 million debt which had been raised by Lodha Developers International Limited, Mauritius against the luxury residential projects in London, UK. The company has further informed bond holders which include, trustee - Bank of New York Mellon and security trustee - BNY Mellon Corporate Trustee Services that the proposed redemption will be executed on March 12.

The developer plans to support the debt repayment and investment repatriation with the sales performance of both the super-premium residential projects in the United Kingdom.

Lodha is expecting to completely repay its $225 million offshore bonds or approximately Rs 1,700 crore, in the upcoming four months ahead of the scheduled maturity, in March 2023.

Macrotech Developers MD & CEO Abhishek Lodha said that they shall continue to see meaningful debt reduction with every quarter, which includes the current quarter, as their goal is to be a very low leverage company by the financial year 2024. The company has already done a fair amount of refinancing and will do Rs 2,000 crore to Rs 2,500 crore even more.

Image Source

Also read: Macrotech Developers to refinance debt up to Rs 2,500 cr by March

Lodha Group, which is listed as Macrotech Developers, is ready to repay their offshore bonds of $170 million or approximately Rs 1,286 crore in the next week, which puts them almost a year ahead of their scheduled maturity of the bonds in March 2023. The bonds fall under the $225 million debt which had been raised by Lodha Developers International Limited, Mauritius against the luxury residential projects in London, UK. The company has further informed bond holders which include, trustee - Bank of New York Mellon and security trustee - BNY Mellon Corporate Trustee Services that the proposed redemption will be executed on March 12. The developer plans to support the debt repayment and investment repatriation with the sales performance of both the super-premium residential projects in the United Kingdom. Lodha is expecting to completely repay its $225 million offshore bonds or approximately Rs 1,700 crore, in the upcoming four months ahead of the scheduled maturity, in March 2023. Macrotech Developers MD & CEO Abhishek Lodha said that they shall continue to see meaningful debt reduction with every quarter, which includes the current quarter, as their goal is to be a very low leverage company by the financial year 2024. The company has already done a fair amount of refinancing and will do Rs 2,000 crore to Rs 2,500 crore even more. Image Source Also read: Macrotech Developers to refinance debt up to Rs 2,500 cr by March

Next Story
Resources

Tata Power turns 5,000 kg plastic waste into green livelihood for women

Tata Power’s Anokha Dhaaga Smart Circularity programme has converted over 5,000 kilograms of single-use plastic waste into recycled fabric products like T-shirts, tote bags, and haversacks, generating over Rs 20 lakh in fair-trade earnings for women entrepreneurs. The initiative is active across six centres and aligns with the World Environment Day 2025 theme — End Plastic Pollution. The project began with a collection drive across Tata Power’s Trombay plant, housing colonies, and offices. In collaboration with ReCircle and sanitation workers ('Safai Saathis'), the waste was processed i..

Next Story
Infrastructure Transport

Adani Airports secures US$ 750 million from global lenders for growth

Adani Airports Holdings (AAHL), a subsidiary of Adani Enterprises and India’s largest private airport operator, has raised US$ 750 million via External Commercial Borrowings from a consortium of international banks. The financing was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank. Of the total funds, US$ 400 million will be used to refinance existing debt, while the remainder will support growth capex across six airports—Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram—and expansion of AAHL’s non-aeronautical verticals including retai..

Next Story
Resources

CASE launches ‘Vijeta’ to skill youth in construction equipment sales

CASE Construction Equipment, a CNH brand, has launched ‘Vijeta’, a CSR initiative aimed at enhancing employability among underprivileged youth in the heavy equipment sector. The programme will equip participants with technical and practical skills required in construction equipment sales, particularly for backhoe loaders. It blends online and offline training, followed by a three-month hands-on industry stint at sales outlets, along with a monthly stipend. Puneet Vidyarthi, Head of Brand Marketing, CASE CE, APAC & India, said, “Vijeta bridges the skill gap in equipment sale..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?