India gears up for first asset-backed property bonds

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DLF is in talks to raise up to Rs 10 billion in a bond backed by lease rentals from two malls by the end of this year. (Reuters) DLF is in talks to raise up to Rs 10 billion in a bond backed by lease rentals from two malls by the end of this year. (Reuters)
SummaryBonds would open new source of capital for the sector weighed down by $22 bn bank debt

Sandeep Singh, director of structured finance at Fitch Ratings in Mumbai.

Raheja said his company is considering doing a deal in the next 3-6 months. "Before we do it we want to make sure it goes right and therefore we are not rushing into it," he said.

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