Lodha Developers changes NCD terms, investors to get early interest payment

Investors will continue to get 9.5% interest on NCDs worth Rs 495 crore after completion of the moratorium period

Investors to non-convertible debentures (NCD) of Lodha Developers will start receiving interest payments one year earlier than the date agreed as the Mumbai-based realtor has changed some repayment terms. The changes pertain to NCDs issued in July 2017.

According to the new terms, the investors would continue to receive 9.5 per cent interest on NCDs worth Rs 495 crore after the completion of the moratorium period of 12 months. Earlier, the moratorium period was 24 months.

Lodha’s NCD investors — HDFC Property Fund, Cloud Investments, Superior Investments and Vistra ITCL — have agreed to the new terms, filings with the stock exchange