Bengaluru, India, October 8, 2024
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, announced today that it has successfully raised ₹2,000 crores of coupon-bearing debt at an interest rate of ~7.95%. Embassy REIT will utilize the proceeds from this debt raise to repay its Non-Convertible Debentures (“NCDs”) of ₹2,000 crores maturing in October 2024.
Aravind Maiya, Chief Executive Officer of Embassy REIT, said, “We are pleased to announce this fundraise of ₹2,000 crores, which has seen strong participation from mutual funds and
banks. The attractive pricing on the term loans and the 3x oversubscription on the listed NCD issuances cements our reputation as the industry’s leading credit. This refinancing continues to allow us to optimally control our balance sheet and positions us to take advantage of future rate cuts to raise capital.”
