SINGAPORE: CapitaLand India Trust has reportedly entered into a forward purchase agreement with Phoenix Group to acquire prime IT buildings in HITEC City, India, an area in Hyderabad that’s a magnet for major multinational companies..
Under the forward purchase agreement, CLINT will fund INR 2.15 billion to clear off the existing loan. In return, it’ll earn interest on the funding at a rate that beats its borrowing cost.
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