The funds generated from the issuance of these instruments will be allocated for repaying the existing debt of Embassy REIT. The debenture committee of the manager's board of directors has sanctioned the issuance of the following:

a. 1,00,000 listed, rated, secured, redeemable, transferable, rupee-denominated, non-convertible debentures with a face value of Rs one lakh each by Embassy REIT on a private placement basis, totalling Rs 10 billion. The term for these debentures is 19 months and 28 days from the deemed date of allotment.

b. Listed, rated, redeemable, rupee-denominated commercial papers for an aggregate amount of Rs 250 crore, with a term of five months and six days from the deemed date of allotment (CP Tranche I Issue).

c. Listed, rated, redeemable, rupee-denominated commercial papers for an aggregate amount of Rs 750 crore, with a term of 12 months from the deemed date of allotment (CP Tranche II Issue).

The committee approved CP Tranche I Issue and CP Tranche II Issue with the condition that the combined amount raised by Embassy REIT, its SPVs, and Holdco through commercial papers does not surpass 10% of the company's consolidated outstanding debt.

It's worth noting that on January 25, 2023, the board had initially sanctioned the raising of debt up to Rs 51 billion for any purpose and through any means.