DLF Ltd, the largest c developer in the country by market value, is looking to raise about Rs1000 crore via bonds to retire high cost debt. The company is looking to issue to bonds in the tenure of two years to five years and the coupon looks to be between 9.50-9.75%. Axis bank is the arranger to the deal, which is likely to be finalized till next week.
The earlier announced integration of DLF Assets Ltd (DAL) with DLF is expected to be completed this quarter and would be followed by a potential listing on the Singapore stock exchange.
Over the last nine months, DLF has received Rs 3,000 crore from DAL and the company has reduced its net debt by Rs 1,200 crore and used the rest as operating expense.
