Lodha group raises $125 mn to repay costlier debt

Leading real estate firm Lodha group has raised an additional $125 million through bonds to pre-pay its costlier debt and reduce interest expense. Mumbai-based Lodha group's subsidiary Lodha Developers International had raised $200 million in March 2015 through issue of bonds with maturity in 2020. The company has now raised an incremental $125 million through issue of bonds with same maturity date, taking the total size to $325 million.