Embassy REIT Prices ₹1,000 crore of 5-Year Non-Convertible Debentures at 7.73%

Delhi, India, December 17, 2024: Embassy Office Parks Real Estate Investment Trust (REIT), India’s first listed REIT and the largest office REIT in Asia by area, has announced that it has successfully raised ₹1,000 crores of five-year coupon-bearing debt at an interest rate of 7.73 per cent. Embassy REIT will utilize the proceeds from this debt raise to repay its certain existing debt. Through this refinance, Embassy REIT will be able to secure c.70 basis points (“bps”) interest savings from the existing rate.   

Ritwik Bhattacharjee, Interim Chief Executive Officer of Embassy REIT, said, “We are pleased to announce this fundraise of INR 1,000 crores at a highly competitive rate, which affirms our position as the leading credit in commercial real estate. The offer witnessed strong participation from new and existing investors, including numerous first-time participants across the mutual fund, pension and insurance sectors. Raising a 5-year NCD allows us to optimally stagger our liability profile and ensure we continue to finance our growth and the rollover of debt maturities prudently.”