Cases & Deals

Lodha Developers International issues 12% Senior Notes in Regulation S offering

Client(s) Lodha Developers Private Limited

Jones Day represented Lodha Developers International Limited in connection with its issuance of US$200 million of 12% Senior Notes due 2020 in a Regulation S offering. J.P. Morgan plc, Barclays Bank plc, and CLSA Limited acted as initial purchasers. The Notes are guaranteed by the issuer’s Indian parent company, Lodha Developers Private Limited, certain Indian subsidiaries of Lodha Developers Private Limited, and a related Mauritius joint venture entity and are listed on the Singapore Stock Exchange.

Lodha Developers Private Limited, a residential real estate developer, was founded in 1980 and in 2014 was the largest real estate developer in India by sales. The offering represents one of the first U.S. dollar denominated high yield offerings by an Indian company.