Mahindra Lifespaces Developers to raise Rs 500 crore via triple tranche bonds: Report

25 Mar 2013

Mahindra Lifespaces Developers is reportedly planning to raise Rs 500 crore through a three-tranche bond sale with a yield of 10.78% each. The Mumbai based real estate firm would be raising Rs 125 crore through 3-years zero coupon bonds, which would yield 10.78% at redemption. It would raise Rs 175 crore through 4-year bonds and Rs 200 crore via 5-year bonds, with a coupon rate of 8% each. Further, HDFC Bank and Kotak are the arrangers for the bond sale.

Mahindra Lifespace Developers (MLDL) is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.

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