New Delhi: Country’s first REIT Embassy Office Parks has approved allotment non-convertible debentures (NCDs) worth Rs 650 crore on private placement basis.
These NCDs have a yield to maturity of 9.05 percent and will mature in June 2022. These NCDs are proposed to be listed on the Wholesale Debt Market segment of the BSE Limited.
This was the second tranche of the allotment. In the first tranche, NCDs worth Rs 3000 crore were allotted. These too will mature In June 2022.
“The transaction is in line with the overall financing plan disclosed in the Final Offer Document dated March 27, 2019 in relation to the Initial Public Offering of Units that Embassy Office Parks REIT filed with the Securities and Exchange Board of India. Transaction Background On April 23, 2019, the Debenture Committee of the Board had approved the issue of NCDs aggregating Rs 36.5 billion (Rs 3,650 crore),” the company said in a regulatory filing.