DLF’ arm successfully places CMBS issuance worth Rs 375 crore

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

The CMBS issue is rated CRISIL AA (SO). This is a 2nd issuance from DLF Group. The arranger for the issue is Trust Investment Advisors.

DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 314 msf of planned projects with 52 msf of projects under construction.