DLF Promenade Ltd raises Rs. 375 crores through CMBS

DLF Promenade Limited, a subsidiary of DLF Limited, has successfully placed the Commercial Mortgage Backed Security (CMBS) issuance of Rs. 375 crore, with a competitive coupon rate of 10.90% p.a. and Legal Maturity of 7.5 years. DLF Promenade owns and operates approximately 4.5 lakh sq. ft Luxury Mall in New Delhi, India.

The CMBS issue is rated CRISIL AA (SO).

This is a 2nd issuance from DLF Group. Commenting on the issuance, Mr. Saurabh Chawla Executive Director - Finance said- "this completes the Phase I of such issuances. We shall continue to explore more such transactions in the future."

The Arranger for the Issue is Trust Investment Advisors Pvt. Ltd.

Shares of DLF LTD. was last trading in BSE at Rs.210.3 as compared to the previous close of Rs. 205.15. The total number of shares traded during the day was 1957189 in over 40951 trades.

The stock hit an intraday high of Rs. 211.15 and intraday low of 199. The net turnover during the day was Rs. 403417106.

Source : Equity Bulls

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