Mapletree: The transaction, valued at over Rs 1,900 crore, forms a key aspect of Adarsh Developers strategy to alleviate debt burdens. With an estimated development potential of approximately 7 million square feet.
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Edelweiss Special Opportunities Fund has extended a Rs 350 crore debt facility to Bengaluru s Shreshta Infra Projects. The funding will aid completion of two projects and repay debt to Oaktree Capital. The facility comprises secured and rated non-convertible bonds at 20.5% annual interest, with a 41-month and 24-day tenor. Shreshta Infra, an Adarsh Developers special purpose vehicle, plans to on-lend Rs 200 crore to its affiliates and allocate the remaining Rs 150 crore for project financing and general corporate purposes, providing a financial blueprint for future real estate ventures.
Shreshta Infra, an Adarsh Developers special purpose vehicle, plans to on-lend Rs 200 crore to its affiliates and allocate the remaining Rs 150 crore for project financing and general corporate purposes, providing a financial blueprint for future real estate ventures.
Citations: 2024 LiveLaw (Kar) 01 To 2024 LiveLaw (Kar) 09Nominal Index:Raghvendraraddi Shivaraddi Naduvinamani AND State of Karnataka. 2024 LiveLaw (Kar) 1H B Bhagyalakshmi AND Cheluvamma. 2024.