Embassy Office Parks REIT raises Rs.500-Cr via NCDs

Embassy Office Parks REIT has raised INR 500 crore through an issue of non-convertible debentures (NCDs) to refinance its existing debt. The company allotted 50,000 NCDs with a face value of INR 1 lakh on a private placement basis. The tenure of the NCDs is 60 months, with a coupon rate of 8.10% per annum payable on a quarterly basis to the debenture holders.