Embassy REIT board approves Rs 20 bn debt raise for repayment
Real Estate

Embassy REIT board approves Rs 20 bn debt raise for repayment

Embassy Office Parks Management Services, the manager for Embassy Office Parks REIT (Embassy REIT), has received approval from its board of directors to raise debt up to Rs 20 billion, as stated in a filing with the BSE.

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.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Embassy Office Parks Management Services, the manager for Embassy Office Parks REIT (Embassy REIT), has received approval from its board of directors to raise debt up to Rs 20 billion, as stated in a filing with the BSE. 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.

Next Story
Infrastructure Transport

Maharashtra clears Rs 23,487 cr Metro Line 11 and key transport projects

Mumbai, 4 September 2025: In a major infrastructure push, the Maharashtra Cabinet has approved key urban transport projects, including the Rs 23,487.51 crore Metro Line 11 connecting Anik Depot–Wadala to the Gateway of India. The line, an extension of Metro Line 4 (Wadala–Thane–Kasara–Vadavli), will feature 13 underground and one elevated station, with 70 per cent of the corridor planned underground.The Cabinet also cleared the procurement of 238 new air-conditioned local trains under the Mumbai Urban Transport Project (MUTP) Phase III and IIIA, with Rs 4,826 crore allocated. Further, ..

Next Story
Real Estate

Max Estates acquires Gurugram land for Rs 3,000 crore housing project

Gurugram, 6 September 2025: Max Estates has acquired a 7.25-acre land parcel in Sector 59, Gurugram, to develop a premium residential project with an estimated sales potential of over Rs 3,000 crore. The project will have a total development potential of 1.3 million sq ft.The company’s board has approved the acquisition of Base Buildwell Pvt Ltd (BBPL), a special purpose vehicle holding the licence and development rights for the site on Golf Course Extension Road. The transaction involves purchasing 100 per cent of BBPL’s share capital, comprising 10,000 equity shares of Rs 10 each and 24,..

Next Story
Infrastructure Transport

Mumbai to get 238 new AC local trains under MUTP expansion

Mumbai: In a major push to upgrade Mumbai’s lifeline, the Mumbai Rail Vikas Corporation (MRVC) has initiated the procurement of 238 fully air-conditioned trains, just four days after the Maharashtra Cabinet cleared the ambitious plan.The project, part of the Mumbai Urban Transport Project (MUTP) Phase III and IIIA, will add 2,856 Vande Metro coaches in 12, 15, and 18-car formations. The first prototype rake is expected to arrive in two years from the contract award date. Two dedicated depots will be developed at Bhivpuri (Central Railway) and Vangaon (Western Railway) for long-term maintenan..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?