Macrotech Developers repays offshore bonds worth $170 million

May 16, 2022

Real estate major Lodha Group, listed as Macrotech Developers, has redeemed offshore bonds of principal amount of $170 million or around Rs 1,300 crore. The company has repaid this debt nearly a year ahead of scheduled maturity of these bonds in March 2023.

“The redeemed notes shall be cancelled and delisted from the Singapore Exchange Securities Trading Limited. The balanced Notes of US$ 55,000,000 continue to be listed on the Singapore Exchange Securities Trading Ltd,” the developer said in a regulatory filing.

Earlier this month, Lodha had announced its plan to repay these offshore bonds partially on March 12.

These bonds are part of a total $225 million debt raised by the developer’s wholly-owned subsidiary Lodha Developers International Ltd, Mauritius against its luxury residential projects--1 Grosvenor Square and Lincoln Square--in London.