Mindspace REIT raises Rs.550-Cr via sustainability-linked bonds from IFC

K Raheja Corp-backed Mumbai-based publicly listed Mindspace Business Parks, a real estate investment trust (REIT), has raised INR 550 crore through sustainability-linked bonds (SLBs) from the International Finance Corporation (IFC).This follows the REIT’s initial INR 650-crore SLB issuance in June 2024, bringing the total SLB issuance to INR 1,200 crore. The INR 650-crore bond was also subscribed by IFC. The allotted SLBs have a tenure of eight years.Shardul Amarchand Mangaldas & Co was legal counsel to the issuer for this transaction.