DLF seeks to raise Rs3,000 cr through mortgage-backed bonds
15 Jul 2014
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Indian realty major DLF has embarked on a mega-fundraising drive aided by financial services firm Credit Suisse. The company is aiming to raise at least Rs3,000 crore through commercial mortgage-backed securities.
The company will issue the securities against its IT special economic zone (SEZ) portfolio spanning 12 million square feet. This segment makes up half of the company's office space.
The company will use the proceeds of this funding drive to improve its balance-sheets and access cheaper debt.
DLF has recently raised Rs900 crore through a similar route from two of its malls.
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