Lodha Developers International Limited Proposes $225 Million Senior Notes Offering
Lodha Developers International Limited, a wholly owned subsidiary of Macrotech Developers Limited, announced that it proposes to offer $225 million aggregate principal of Senior Secured Notes due 2023, subject to market conditions and other factors. The Company would use the proceeds of the Issue to refinance a part of its outstanding $324 Million Senior Notes due 2020. “Earlier this week, we raised GBP 86 million (INR 800 crores) in the UK. With these proceeds and additional cash flows from our UK and India businesses, we look forward to fully repaying our 2020 USD bonds in March 2020.” said Abhishek Lodha, MD & CEO, Macrotech Developers Limited. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers of the notes will be made only by means of a private offering memorandum. This press release contains forward-looking statements which include but not limited to statements concerning the terms, timing and completion of the offering of the notes and the anticipated use of the net proceeds from the offering.
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