DLF Emporio Limited, a subsidiary of DLF Limited, has raised Rs 525 crore from issuance of India’s first Commercial Mortgage Backed Security (CMBS). The funds were raised at a coupon rate of 10.90 percent p.a. and carry a Legal Maturity of 7.5 years. DLF Emporio owns and operates approximately 3 lakh sq.ft. of a luxury mall in New Delhi, India.
Being considered as a landmark issuance completed at a competitive pricing, the issue is expected to be a trendsetter and pave way for more issuances in the future.
The CMBS issue was rated AA(SO) by CRISIL. Trust Investment Advisors was the sole arranger for the issue.