Tag: Crisil rating

CommercialLatest Stories

Mindspace REIT Secures ₹500 Crore with 10-Year NCDs at 7.63%

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has successfully raised ₹500 crore via a 10-year non-convertible debenture (NCD), according to a company announcement. The issuance was fully subscribed by a domestic life insurance company and features a fixed coupon of 7.63% per annum, with payments made quarterly. CRISIL and ICRA have rated the debentures as AAA/Stable. The funds raised will be allocated for refinancing existing debts, as the office REIT aims to extend its debt maturity profile and enhance the proportion of fixed-rate borrowings. Including this transaction, the company (along with its special purpose vehicles) has raised a total…

IndustryLatest Stories

Embassy REIT Secures ₹1,400 Crore via 10-Year NCDs

NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has successfully raised ₹1,400 crore through a 10-year non-convertible debenture (NCD) issuance, as part of its ongoing capital raising strategy. The recent issuance, which comes with a fixed coupon rate of 7.49% for a decade, was fully subscribed by a prominent domestic life insurance company. This marks the REIT’s second 10-year bond issuance for FY26. With this deal, Embassy REIT has accumulated ₹3,400 crore through 10-year NCDs in this financial year, aimed at enhancing the maturity profile of its debt. The NCDs have a ‘AAA/Stable’ rating from CRISIL and CARE Ratings. Amit…

IndustryLatest Stories

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…