Debt

Debt financing

Embassy REIT raises Rs.2,000-Cr

Press Release   Economic Times  

Publicly listed Embassy REIT has raised INR 2,000 crore. The coupon-bearing debt was raised at an interest rate of 7.95%. The raised capital includes issuance of INR 900 crore against Embassy 247 in Mumbai, Embassy REIT Series XI NCDs 2024 with effective interest rate of 7.87% and INR 1,100 crore of term loans from banks at 8.0% floating coupon against Embassy Manyata Business Park. All the proceeds would be used to refinance existing Series V NCD maturing in October 2024.Talwar Thakore & Associates served as the legal counsel to Embassy REIT.