India gears up for first asset-backed property bonds

Indian property firms, including DLF Ltd(DLF.NS), are gearing up to sell the country's first bonds backed by rental income from their office buildings and shopping malls. The bonds would open a new source of capital for a commercial property sector weighed down by $22 billion of bank debt and sluggish rentals, and come on the heels of new rules allowing developers to raise money through real estate investment trusts (REITs).

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