Embassy REIT Secures Rs 2,000 Crore for Debt Repayment

Embassy Office Parks REIT has raised Rs 2,000 crore through a debt issuance with a 7.95% interest, intended to repay non-convertible debentures maturing in October 2024. The capital raise witnessed robust participation and allows the company to maintain control over its balance sheet while preparing for future financial opportunities.

Embassy Office Parks REIT has successfully raised Rs 2,000 crore in debt, ensuring the repayment of non-convertible debentures due this month. The new debt carries an interest rate of 7.95%, reflecting strong participation from mutual funds and banks.

CEO Aravind Maiya highlighted the strategic advantage provided by this refinancing, which positions the company well for future opportunities, including potential rate cuts. The move underlines Embassy REIT's proactive management of its financial obligations and assets.

As India's first publicly listed Real Estate Investment Trust, Embassy REIT manages an extensive portfolio of office parks and business amenities, reinforcing its standing in the real estate sector with this latest financial maneuver.

(With inputs from agencies.)