Embassy REIT Plans ₹20 Billion Bond Sale, Say Sources
MUMBAI: Embassy Office Parks REIT in India is negotiating with bankers to secure 20 billion rupees ($232.79 million) by issuing five-year corporate bonds, according to three sources familiar with the situation, who asked to remain anonymous due to the private nature of the talks. The firm aims to finalize this funding round by the end of the month. Mutual funds and some insurance companies are expected to show strong interest in the debt sale, as the bonds are rated ‘AAA’ by Crisil. Embassy REIT will approach the bond market for the second time this year, following a successful raise of…