DLF Cyber City Developers raises Rs 1,000 crore through NCDs
NEW DELHI: DLF Cyber City Developers (DCCDL), the rental arm of DLF, has raised Rs 1,000
crore through non-convertible debentures (NCDs) at 6.7% annual coupon maturing in
September 2024, the company said in a BSE filing.
“..DCCDL has approved allotment of 10,000 senior, secured, rated, listed redeemable nonconvertible debentures (NCDs) with ‘CRISIL AA/ Stable’ rating of the face value of Rs 10,00,000
each at a coupon rate of 6.7% p.a. (~6.5% p.a.p.m.), payable on annual basis, with an
aggregate principal amount of Rs 1,000 crore…,” it said in the regulatory filing.
The proceeds will be utilised to refinance its existing debt resulting in interest savings and marks
DCCDL’s foray into the listed debt capital market and widening its investor base, the company
said in a media release.
“Our endeavour is to reduce the overall cost of our debt, the successful placement of the NCDs
is a resonant endorsement of DLF’s commercial portfolio,” said Vivek Anand, group chief
financial officer, DLF.
DCCDL has a commercial portfolio of about 34 million sq ft spread across seven cities
Read more at :