Bangalore: Century real estate, a real estate development company based in Bangalore has successfully redeemed it nonconvertible debentures (NCDs) that it has raised through Kotak Mahindra Prime, a nonbanking finance company. NCDs are unsecured bonds and unlike convertible debentures these cannot be converted in stock or company equity. NCDs usually have high interest rates. The nonconvertible debentures amounted to Rs 100 crore.Century real estate had launched seven projects in 2010 which covered a total area of 1.7 million sq ft. the builder raised funds for the projects by selling 80% of the shares to corporate investors, high net worth individuals and Kotak Mahindra Prime.Managing director of Century Real Estate Holdings P Ravindra Pai said, “We do not have any outstanding to the NBFC.” Century Real Estate has raised Rs 100 crore on the side to pay back their debt to the Kotak Mahindra Prime. Nonconvertible debentures are being used as a first choice by various real estate firms as these offer yields of over 20%.The company has also raised Rs 410 crore in four tranches over the past two years. This has also been done with NCDs from JM Financial, Kotak Realty Fund and Reliance Capital owned by Anil Ambani.In the first six months of 2012 there were 22 private equity-real estate investments and the recorded transaction amounted to $ 659 million. In the first six months of 2013 across 20 deals private equity-real estate investments have amounted to $887. Examples of large transactions that were closed earlier in 2013 include Ascendas Trust’s acquisitions of 2 million sq ft of office space from Phoenix Group for Rs 600-crore in Hyderabad and Xander’s investments of Rs 280 crore in Supertech’s 125-acre township project in Gurgaon.займ на карту без отказов круглосуточновзять кредит онлайн