KKR and Standard Chartered Provide INR7.5 Billion Loan to Wadhwa Group (Asia)
Source: PERE | Author(s): Michelle Phillips
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has provided part of an INR7.5 billion (approximately US$125 million) loan to India-based property developer Wadhwa Group. KKR contributed INR3.5 billion (approximately US$58 million) from its India Alternative Credit Opportunities Fund I, while banking services company Standard Chartered Bank provided the remaining INR4 billion (approximately US$67 million). The four-year loan will be used to repay Wadhwa’s existing debt and for a high-end residential apartment project outside of Mumbai.