Debt

Debt financing

Brookfield India REIT raises Rs.750-Cr to fund acquisition of 2 properties

Plunge Daily  

Brookfield India Real Estate Trust has raised INR 750 crore through commercial papers to partly fund acquisition of two properties: Downtown Powai, Mumbai and Candor TechSpace (G1) Gurugram. The trust has issued 15,000 rupee denominated, listed and rated commercial papers, aggregating to INR 750 crore at a face value of INR 5 lakh each. The company has already raised INR 2,305.4 crore through the Qualified Institutional Placement (QIP). It plans to raise another INR 400 crore through preferential allotment to the sponsor group. The transaction is to close in the second quarter of this fiscal. Brookfield India Real Estate Trust has five office parks in Mumbai, Gurugram, Noida, and Kolkata. Its portfolio consists of 18.7 million sq ft comprising 14.3 million sq ft of completed area, 0.6 million sq ft of under construction.