Realty major DLF’s rental arm DCCDL has raised ₹2,400 crore debt from India’s largest lender SBI to refinance its existing debt and fund future expansion plans. DLF’s group chief financial officer (CFO) Vivek Anand said the debt has been raised at a very attractive interest rate of 7.35 per cent, enabling the company to reduce interest cost. Asked about utilisation of funds, Anand who is a chartered accountant by profession with 25 years of experience across businesses, said DCCDL has refinanced its existing debt worth ₹1,950 crore while ₹450 crore will be used for future expansion.
DLF raises ₹2,400 cr from SBI to refinance debt, fund ongoing projects
Date posted: Monday 19 October 2020