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Article: India : Century to raise Rs 800 cr debt.
- Article from:
- TendersInfo
- Article date:
- July 30, 2009
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Byline: pinto03
Century Group, which has a land bank of 2,000 acres of prime property in and around Bangalore, is raising a debt of Rs 800 crore to complete several of its ongoing projects. While Rs 200 crore is being raised at the enterprise level, another Rs 600 crore is being raised at a Special Purpose Vehicle level for a hospitality project in which Canada-based Four Seasons is expected to manage the hotel.
Industry sources indicate that Century has resorted to debt as a plan to raise private equity is getting delayed owing to economic crisis. Century Group was expected to mop up around $200 million from Goldman Sachs-led consortium which is ...