Embassy REIT raises Rs 1,400 cr via issue of debentures

New Delhi, Mar 5 (PTI) Realty firm Embassy Office Parks REIT has raised Rs 1,400 crore through the issue of debentures.

In a regulatory filing on Thursday, the company said it has raised Rs 1,400 crore through the issue of Non-Convertible Debenture (NCD).

The issuance was priced at an attractive fixed coupon of 7.49 per cent for a 10-year tenor and was fully subscribed by one of India's largest life insurance companies, it added.

Embassy REIT CEO Amit Shetty said, "This latest raise is part of our broader capital-raising strategy to increase the average duration of our debt stack while market conditions remain favourable.

"This transaction marks its second 10-year debt issuance within this financial year, highlighting the company's ability to consistently access long-term capital at competitive rates." Embassy REIT owns and operates a portfolio of over 50 million square feet of office spaces across Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. PTI MJH DRR