world is news

Mindspace REIT raises Rs 200 cr through debentures

Spread the news

Mindspace Business Parks REIT has raised Rs 200 crore by issuing debentures on a non-public placement foundation.

In a regulatory submitting, the corporate knowledgeable that the chief committee Ok Raheja Corp Investment Managers LLP, supervisor to Mindspace Business Parks REIT, has permitted the allotment of two,000 non-convertible debentures of the face worth of Rs 10 lakh every for an mixture principal quantity of Rs 200 crore on a personal placement foundation.

The non-convertible debentures are proposed to be listed on the wholesale debt market (WDM) phase of the BSE Limited. The tenure of the debentures is 36 months with a coupon fee of 6.45 per cent each year.

Sources mentioned the corporate would utilise the fund to refinance its present debt and reduce curiosity price.

Mindspace Business Parks is India’s second REIT (Real Estate Investment Trust) and obtained listed this 12 months after a profitable launch of public challenge of about Rs 4,500 crore.

The nation’s first REIT, Embassy Office Parks, obtained listed in April final 12 months after elevating Rs 4,750 crore.

Spread the news