Embassy REIT raises Rs.2,000-Cr through non-convertible debenture

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.