Bengaluru: Embassy Office Parks REIT (NSE: EMBASSY | BSE: 542602), (Embassy REIT) India’s first listed Real Estate Investment Trust and Asia’s largest office REIT by area, has announced the successful pricing of ₹2,000 crore through coupon-bearing non-convertible debentures (NCDs) with a competitive interest rate of ~7.21% for a tenure of three years.
The capital raised will be utilized to refinance existing debt, resulting in estimated annual interest cost savings of approximately 77 basis points.
This move underscores Embassy REIT’s proactive approach to financial optimization and capital structure enhancement.
Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT, commented, “We are pleased to announce this ₹2,000 crore fundraise at an attractive rate of ~7.21%. This transaction showcases Embassy REIT’s fortress balance sheet and reinforces our standing as the leading credit in India’s commercial real estate sector. We maintain a well-diversified and conservative debt book, and this refinancing positions us well to capitalize on future growth opportunities.”
Embassy REIT: Key Highlights
- NCD Issuance: ₹2,000 crore raised via Series XIII NCDs with a 7.21% effective interest rate.
- Investor Confidence: Participation from 11 institutional investors highlights robust demand.
- Debt Optimization: Embassy Office Parks REIT will prepay ₹500 crore worth of Series IX NCDs carrying an 8.03% coupon on June 4, 2025—three months ahead of schedule.
- Credit Rating: CRISIL has assigned a “AAA/Stable” rating to the new issuance.
- Advisors: Talwar Thakore & Associates acted as legal counsel for the transaction.
This issuance reinforces Embassy REIT’s leadership in India’s commercial real estate financing ecosystem. The company’s diversified portfolio spans 51.1 million square feet across Bengaluru, Mumbai, Pune, NCR, and Chennai.
Embassy REIT continues to focus on ESG excellence and long-term value creation, having already been recognized in the Dow Jones Sustainability Indices and by global institutions like GRESB.
