Business StandardCenter·
Embassy Reit raises ₹1,000 crore through debentures to refinance debt
Realty firm Embassy Office Parks REIT has raised Rs 1,000 crore through the issue of non-convertible debentures (NCDs) to a European bank. The amount would be used to refinance its existing debt. In a regulatory filing on Friday, the company said the amount has been raised through the issuance of three-year floating-rate NCDs, fully subscribed by a leading European multinational bank. The NCDs have been issued at an initial coupon rate of 6.97 per cent. The transaction marks the first financing…
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