General Announcement::Lodha Developers International Limited - buy-back programme

Issuer & Securities

Issuer/ Manager
LODHA DEVELOPERS INTERNATIONAL LIMITED
Securities
LODHA DEV US$200M 12% 200313 - XS1148395582 - 25WB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
22-Jan-2019 18:30:58
Status
New
Announcement Sub Title
Lodha Developers International Limited - buy-back programme
Announcement Reference
SG190122OTHR6LHB
Submitted By (Co./ Ind. Name)
Sanjyot Rangnekar
Designation
Authorised Signatory
Effective Date and Time of the event
22/01/2019 16:00:00
Description (Please provide a detailed description of the event in the box below)
Lodha Developers International Limited, Mauritius

Buy-Back Programme for Senior Notes due 2020


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES, AND THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED ) OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. OTHER RESTRICTIONS APPLY.


Lodha Developers International Limited (the "Company") hereby announces that it intends to enter into arrangements with J.P. Morgan Securities plc to commence a buy-back programme to repurchase on its behalf, up to US$65 million (i.e. up to 20 per cent.) of the US$325 million outstanding principal amount of the 12 per cent. Senior Notes due 2020 issued by the Company (the "2020 Bonds").

It is expected that the arrangements will take effect from 22 January 2019. In accordance with the terms and conditions of the 2020 Bonds, the purchased 2020 Bonds may either be cancelled or held until their maturity date.

Purchases of the 2020 Bonds will be financed by the Company from its currently available funds.

The purpose of the purchase of the 2020 Bonds is for the Company to provide liquidity to the 2020 Bondholders, proactively manage its capital structure and reduce gross debt and leverage.


This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

Attachments

Buy back of bonds announcement.pdf
Total size =109K