Lodha Developers builds bond curve at a cost

The Indian developer paid the highest-ever yield for its debut $200 million bond in the firm's second attempt at foreign fundraising.

Lodha Developers builds bond curve at a cost

Lodha Developers sold a maiden $200 million five-year bond callable in year three early Friday morning, obtaining a relatively small order book of $400 million.

The Ba3B rated Reg S-only offering didn't manage to garner enough interest to tighten pricing. The bond priced at its initial guidance yield of 12%, the highest ever for an Indian high-yield corporate, according to Bloomberg bond data. That is at fair value, a credit...

To continue reading, please login or register for free

Click for more on: lodha developers | property | bonds | asia | india | high yield

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...