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Lodha Group's UK arm to raise $225 million through bonds issue

BY Realty Plus

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Realty firm Lodha group's UK subsidiary plans to raise USD 225 million through issue of bonds to refinance part of its outstanding debt security. Lodha Developers International Ltd, a subsidiary of Mumbai-based Lodha group, proposes to offer USD 225 million aggregate principal of senior secured notes due 2023. The company would use the proceeds of the issue to refinance a part of its outstanding USD 324 million senior notes due 2020. Lodha Developers has been renamed as Macrotech Developers Ltd.

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