DLF to raise Rs 900cr via CMBS; Crisil gives stable rating

Apr 25 2014, 20:27 IST
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DLF Emporio and DLF Promenade have a total leasable area of nearly 8 lakh sq ft. Reuters DLF Emporio and DLF Promenade have a total leasable area of nearly 8 lakh sq ft. Reuters
SummaryCredit rating agency Crisil has assigned stable rating to realty major DLF's proposed issue of the country's first commercial mortgage backed securities (CMBS) to raise Rs 900 crore.

available with the issuer during the tenure of the instrument are higher than lease rental-discounting loans from banks. These loans have a structure where principal repayment is amortised, while CMBS will have a bullet repayment.

DLF has a total developable potential of 312 million sq ft, of which 60 million sq ft is under construction.

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