Indiabulls Housing Will Raise $200 million in Debt from Oaktree

Indiabulls Housing Finance is in the final stages of negotiating a deal with Oaktree to raise $200 million (Rs 1,500 crore) in debt, the second such deal between the two in the past three months. Like in the previous deal, Indiabulls will pledge some developer loans with the global stressed assets investor, which will come in as a senior lender. Oaktree will have the first right on projects’ cash flows, as per the deal. Indiabulls had raised Rs 2,200 crore from Oaktree in June by refinancing part of its real estate deals with the US-based investor.