Amarchand Mangaldas for DLF on India's first CMBS issue

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Tuesday, 3 June 2014 By Legally India Capital Markets

Amarchand Mangaldas advised realty giant DLF on India’s first commercial mortgage backed securities (CMBS) issue to raise Rs 3,500 crore this fiscal.

Amarchand Mumbai banking partner Leena Chacko acted for DLF whose CMBS bonds which come close on the heels of new rules allowing developers to raise money through real estate investment trusts, reported Firstbiz.

Firstbiz added that the asset-backed structure of CMBS points to renewed interest in securitisation, and CMBS would help DLF save interest costs by replacing existing debt. DLF had Rs 19,508 crore net debt as on 30 September and its finance cost stood at about Rs 600 crore during the second quarter of the last fiscal, according to ET.

Amarchand Mangaldas

Comments

Anon 3 Jun 2014, 14:46
+0 -0
Didn't DLF generally use to instruct AMSS Delhi on their deals?
Guest 4 Jun 2014, 11:36
+2 -2
Hi Kian, any news on the GMR Energy DRHP withdrawal?
Guest 4 Jun 2014, 15:53
+0 -0
Kian anything on yes bank 500 million capital raise ??
Guest 4 Jun 2014, 16:37
+0 -1
kian, who acted for YES Bank 500 million dollar raise ??

Khaitan or AMSS ??
Obvious 5 Jun 2014, 13:52
+0 -2
Who else apart from Amarchand, the leader in Capital Markets by a huge margin, year after year :-)
Pinky 6 Jun 2014, 11:19
+1 -0
LI is great, but maybe you should try to read some newspapers too? Look out for tombstone in most business newspapers
Guest 9 Jun 2014, 09:24
+1 -0
why is barandbench reporting the same transaction to be of 549 crore and u are reporting it as 3500 crore?
kianganz 9 Jun 2014, 09:38
+1 -1
The company is planning to raise up to Rs 3,500 crore this financial year through the programme, according to reports:
http://articles.economictimes.indiatimes.com/2014-05-30/news/50211334_1_cmbs-hotel-chain-amanresorts-realty-giant-dlf
Guest 24 Jun 2014, 23:25
+0 -0
Kian - why is this mentioned as 'CMBS bonds'? Wasn't the issued paper PTCs or was it termed as 'bonds'? My interest is because they are usually never termed as bonds in the India market. Thanks.
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