Key Takeaways
- • Indian real estate developer RMZ Corp. is seeking to raise about $500 million from Bain Capital to fund its expansion, according to people familiar with the matter.
- • RMZ Corp. is backed by Canada Pension Plan Investment Board (CPPIB), and the talks are in advanced stages.
- • RMZ approached several other global private credit firms before reaching advanced discussions with Bain.
- • The proposed financing includes an element of convertible equity, per one of the sources.
- • The deal reflects a growing trend of Indian property firms turning to private credit for funding.
Summary
Indian real estate developer RMZ Corp. is in advanced talks to raise about $500 million from Bain Capital to finance its expansion, according to people familiar with the matter, as reported by Bloomberg. The discussions are private, and the sources asked not to be identified.
The company, which is backed by Canada Pension Plan Investment Board, approached several other global private credit firms before entering advanced negotiations with Bain. The people said the financing structure contains an element of convertible equity, which would combine debt-like financing with an equity component.
The reported transaction adds to a growing number of Indian property developers securing capital through private credit, a trend that reflects the increasing role of private credit managers in financing India's real estate sector. Terms beyond the reported size and structure, including pricing and timing, were not disclosed in the report.
The company, which is backed by Canada Pension Plan Investment Board, approached several other global private credit firms before entering advanced negotiations with Bain. The people said the financing structure contains an element of convertible equity, which would combine debt-like financing with an equity component.
The reported transaction adds to a growing number of Indian property developers securing capital through private credit, a trend that reflects the increasing role of private credit managers in financing India's real estate sector. Terms beyond the reported size and structure, including pricing and timing, were not disclosed in the report.
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