Debt

Debt Financing

Embassy REIT raises Rs.4,600-Cr through NCDs to refinance debt

Economic Times  

Embassy Office Parks REIT (Embassy REIT) has raised INR 4,600 crore coupon-bearing debt at an interest rate of 6.5%. It will use the proceeds to repay its existing zero-coupon bond outstanding of INR 4,530 crore. The debenture committee approved the allotment of INR 3,100 crore Series V rupee-denominated, listed, rated, secured, redeemable, transferable NCDs by way of private placement at 6.5% average fixed coupon payable quarterly. Out of this, INR 1,100 crore is at 7% for five-year NCDs and INR 2,000 crore is at 6.3% for three-year NCDs.