Embassy Office Parks REIT has approved the issuance of non-convertible debentures (NCDs) aggregating up to Rs 14 billion. The debentures will be issued via private placement, with proceeds earmarked for debt repayment and capital expenditure of special purpose vehicles, strengthening the REIT’s financial flexibility and long-term growth strategy.
Embassy Office Parks REIT, India’s first listed real estate investment trust, announced that its debenture committee has approved the issuance of Series XVI non-convertible debentures (NCDs) worth Rs 14 billion. The issuance will be carried out through private placement, with a tenure of up to 10 years.
Key Highlights
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Embassy REIT approves issuance of Series XVI NCDs worth Rs 14 billion
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Debentures will be issued via private placement, comprising 140,000 units of Rs 100,000 face value each
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Proceeds to be utilized for repayment of existing debt and capital expenditure of SPVs
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Part of a larger Rs 105 billion debt-raising program approved by the board in 2025
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Move enhances financial flexibility and supports long-term expansion of office assets portfolio
Strategic Impact
The issuance underscores Embassy REIT’s proactive approach to managing debt and funding growth. By channeling proceeds into debt repayment and capital expenditure, the REIT strengthens its balance sheet while ensuring resources for expansion. With robust leasing activity and strong occupancy levels, the move positions Embassy REIT to capitalize on India’s growing demand for Grade-A office spaces.
Sources: Embassy REIT Press Release, ScanX News, Economic Times