Mindspace REIT Raises Rs 200 Cr Via Debentures

Mindspace REIT Raises Rs 200 Cr Via Debentures
18/12/2020 , by , in News/Views

 Mindspace Business Parks REIT has raised Rs 200 crore by issuing debentures on a private placement basis. The executive committee K Raheja Corp Investment Managers LLP, manager to Mindspace Business Parks REIT, has approved the allotment of 2,000 non-convertible debentures of the face value of Rs 10 lakh each for an aggregate principal amount of Rs 200 crore on a private placement basis.

The non-convertible debentures are proposed to be listed on the wholesale debt market (WDM) segment of the BSE Limited. The tenure of the debentures is 36 months with a coupon rate of 6.45 per cent per annum. The company would utilise the fund to refinance its existing debt and cut interest cost.

Mindspace Business Parks is India’s second REIT (Real Estate Investment Trust) and got listed this year after a successful launch of public issue of about Rs 4,500 crore. The country’s first REIT, Embassy Office Parks, got listed in April last year after raising Rs 4,750 crore.

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