Macrotech to repay $170 mn offshore bonds in next week

09 Mar 2022 CW Team

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

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..