Business Daily from THE HINDU group of publications
Friday, Oct 12, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 12, 2007 ePaper |
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Corporate
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Overseas Borrowings DLF to raise $1.5 b loan overseas Our Bureau New Delhi, Oct. 11 Real estate company DLF Ltd on Thursday announced it would raise up to $1.5 billion (about Rs 6,000 crore) loan from the overseas market for participating in the public offer of DLF Offices Trust, Singapore, and investing in lucrative projects and companies. The loan would be raised in a wholly owned subsidiary abroad. DLF Ltd on Thursday informed the BSE that its board had given approval for investments of up to $750 million in projects or companies in sync with DLF’s business activities in India or overseas. Another $750 million would be used to participate in the IPO of DLF Offices Trust, Singapore, promoted by Mr K.P. Singh. Singapore planDLF Offices plans to float a public issue in Singapore to raise $1.5 billion sometime in January next year. It would file the draft prospectus in 1-2 weeks, sources said, adding that Goldman Sachs and Lehman Brothers have been appointed as lead managers for the proposed public offer. The company has been set up for holding and buying yielding commercial assets and is owned by DLF Ltd promoters’ family. The portfolio of the company is learnt to comprise of SEZs at this point and the company has bought or contracted 12 million square feet of space from DLF Ltd. More Stories on : Overseas Borrowings | Real Estate & Construction
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