Top Stories
L&T Partners with PS Technology to Revolutionise Railways
6 mins read. August 2, 2024 at 12:45 PM
Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr
4 mins read. August 2, 2024 at 12:41 PM
Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr
4 mins read. August 2, 2024 at 12:36 PM

Varde Partners provide Rs. 750 crore Mezzanine debt to Phoenix Group
Varde Partners Provides Rs 750 Crore Mezzanine Debt to Phoenix Group for Expansion
Global alternative investment firm Varde Partners has provided approximately Rs 750 crore to Phoenix Group through a mezzanine debt arrangement.
The funding will be utilized by the developer for ongoing construction activities, while the possibility of converting a special economic zone (SEZ) project into a non-SEZ one is also being considered.
Earlier this year, sovereign fund GIC purchased an IT-SEZ spanning 1.1 million sq. ft. in Hyderabad's Gachibowli from Phoenix Group for Rs 1,050 crore. The 'Phoenix Aquilla' project features two towers spanning 1.8 million sq. ft., with the first tower already completed and leased.
Furthermore, the firm has ambitions to invest up to USD one billion. In 2022, it extended Rs 440 crore to Omaxe and an additional Rs 400 crore to Casagrand for acquiring land parcels. Over the past four years, Varde has successfully deployed over USD three billion across 20 distinct transactions in India.
Mezzanine debt, classified as subordinated debt, is repaid only after the senior lender's obligations have been fully met.
Source: Media Reports
Related News

L&T Partners with PS Technology to Revolutionise Railways
6 mins read. August 2, 2024 at 12:45 PM

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr
4 mins read. August 2, 2024 at 12:41 PM

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr
4 mins read. August 2, 2024 at 12:36 PM

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr
4 mins read. August 2, 2024 at 12:33 PM
Download app
Access BlinkX
everywhere
across device
