Debt financing
Embassy REIT raises Rs.2,000-Cr through non-convertible debenture
BSE Announcement Business Standard
Publicly listed Bengaluru-based real estate investment trust Embassy Office Parks REIT has raised INR 2,000 crore via a 10-year non-convertible debenture (NCD) at an interest rate of 7.33%. The proceeds will be used to refinance existing debt.The issuance saw demand from over 15 institutional investors, including insurance companies, pension funds, and mutual funds, and was oversubscribed by 1.4 times.
Between Mar 2019 and Mar 2023, Embassy Office Parks REIT had attracted about USD 489 M from Blackstone, Bain Capital, and Kotak Realty.
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