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Macrotech Developers raises Rs 650- crore to refinance high-cost debt

Dated on: Wednesday 25th October 2023

Macrotech Developers, a prominent player in Mumbai's real estate sector, has secured a debt facility of Rs 650 crore from Standard Chartered Bank and Deutsche Bank for a three-year term. This funding will be used to refinance their high-cost debt. Standard Chartered Bank extended Rs 245 crore at an annual interest rate of 9%, while Deutsche Bank provided Rs 405 crore at a quarterly interest rate of 9.5%.

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