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DLF sells bonds to reduce debts

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Realty leaders are making new ways to cut manage their growing debts due to the slow market of the Indian realty. According to the recent source of www.propertykhazana.com the leading brand DLF has decided to sell its Rs 10 million of bonds, which is now the biggest talk of the realty house. The company is making plan to dispose it bonds of two years that carries a coupon charge of 10 percent. Company is also in the main page of the dailies for their approach to a foreign capital groups to cut the local debts as soon as possible.
Source of www.propertykhazana.com also reveals that the two year bonds of the company have the 10.25 maturity and for the three years it is at 10.76 percent. Axis Bank is playing the mid person of the deal of the DLF debts which is expected to cross the limit of Rs 17 billion from the Punjab National Bank at an interest of 13.5 percent. On this situation a senior officials of PNB says that “the company will convert the currency taken from the foreign side to cover up the debt and we are in talks for further process with the realty team”. Apart from this DLF also has delivered around 7.1 billions of rupees for the bonds of five year which has a higher yield of touching 14 percent. For more and latest real estate updates visit www.propertykhazana.com.
Source: NBTVLIVE

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