Debt financing
REIT Nexus Select raises Rs.700-Cr led by IFC
Mumbai-headquartered Nexus Select Trust , a Blackstone-backed retail real estate investment trust, has raised INR 700 crore through a bond issue from the International Finance Corp. (IFC), which anchored the bond issue, subscribing to about INR 250 crore. This transaction represents IFC's initial investment in an Indian retail REIT.Nexus Select, which became publicly listed in 2023, maintains a portfolio of 19 Grade-A shopping malls and centers across 15 cities, three hotel assets, and three office properties.The funds from the bond issue will be used to refinance debt. The 10-year bonds are connected to sustainability targets, including achieving net-zero emissions by 2030 and securing EDGE green building certification for new acquisitions.
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