DLF Ltd, India's top listed real estate firm, is looking to sell Rs10 billion of bonds and is in talks for a foreign currency loan to help reduce high-cost debt, two sources with direct knowledge of the matter said on Monday.                                            The company is looking to sell two-year bonds carrying a coupon rate of 10%, payable half-yearly, and three-year bonds at 10.50%, market sources said.                                             
The yield-to-maturity is 10.25% for the two-year bonds and 10.77% for the three-year tranche, they added.                                            Axis Bank is arranger to the deal.                                            Sources told Reuters that DLF is looking to refinance high-cost debt including part of a Rs17 billion loan taken from Punjab National Bank (PNB) at an interest rate of about 13.5%.                                             
"They may restructure our loan by converting it into a foreign currency loan at a lower rate. They are in talks with us on this," said a senior official at PNB.                                           DLF had also issued Rs7.2 billion of five-year bonds at a high yield of 14% in February.