Embassy Office Parks REIT raises Rs.300-Cr via NCDs to refinance debt

Embassy Office Parks REIT has allotted, by way of a private placement, INR 300 crore of rupee-denominated non-convertible debentures (NCDs) at a 6.80% quarterly coupon with a 5-year tenure. Rating agency CRISIL has assigned 'AAA/Stable' rating to these NCDs. The proceeds of the issue will be primarily used to refinance existing construction finance debt.