Macrotech Developers Ltd arm announces early redemption of Notes

Macrotech Developers Ltd's wholly-owned subsidiary, Lodha Developers International Limited, Mauritius has given a notice to the Note holders, the Trustee and Singapore Stock Exchange of its US$ 225,000,000, 14% Senior Secured Notes due 2023 (the 'Notes') for early redemption of principal amount of US$ 170,000,000 of the Notes on March 12, 2022 as per the terms of the Indenture.

Pursuant to Section 3.08 of the Indenture, the redemption price for the Notes will be 100.25% of the principal amount of the Notes to be redeemed ("Redemption Price"), plus accrued and unpaid interest thereon up to (but not including) March 12, 2022 to be paid to the Persons who are registered holders of the Notes on the Business Day immediately prior to the Redemption Date ("Record Date"). The Mandatory Redemption Amount is US$ 170,425,000 (United States Dollars One Hundred Seventy Million Four Hundred Twenty Five Thousand). This Mandatory Redemption Amount is excluding interest accrued and unpaid up to (but not including) March 12, 2022 and will be paid separately.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1128.00 as compared to the previous close of Rs. 1173.30. The total number of shares traded during the day was 10568 in over 1315 trades.

The stock hit an intraday high of Rs. 1160.00 and intraday low of 1107.55. The net turnover during the day was Rs. 11905352.00.

Source : Equity Bulls

Keywords

MacrotechDevelopers INE670K01029 LODHA Realty EarlyRedemption Notes