Debt

Debt financing

Embassy REIT raises Rs.1,000-Cr loan from Bajaj Housing Finance

Economic Times  

Embassy Office Parks REIT (Real Estate Investment Trust), India's first listed REIT and the largest office REIT in Asia by area, has raised a term loan of INR 1,000 crore from Bajaj Housing Finance Ltd. Embassy REIT will use the proceeds of the loan primarily to repay existing construction debt. With this refinance, Embassy REIT achieves interest savings through a 60 basis points positive refinancing spread. The loan has been raised for a tenor of 12 years which will enable Embassy REIT to extend the maturity of its debt book. Embassy REIT's portfolio comprises 34.3 msf completed operating area which is home to around 230 companies. Embassy REIT owns and operates a 43.6 msf portfolio of eight infrastructure-like office parks and four city-centre office buildings in Bangalore, Mumbai, Pune, and the National Capital Region (NCR).