IFC invests Rs 650-Cr in Mindspace Biz Parks REIT

International Finance Corporation (IFC) has invested over INR 650 crore in K Raheja Corp-backed Mindspace Business Parks REIT through an issue of sustainability-linked bonds. The proceeds are proposed to be utilised for refinancing amongst other uses.The coupon is fixed in nature, and will be stepped down, in a staggered manner, based on achievement of set targets.