Embassy REIT to raise Rs 2,600 crore via NCDs

Embassy Office Parks REIT on Tuesday said, “Its board has approved to raise to Rs 2,600 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.”

In a filing with the exchange, Embassy REIT said, “The debenture committee of the board of directors of the Embassy Management Services has approved the issuance of 26,000 listed, rated, secured redeemable, transferable, rupee dominated NCDs of the face value of Rs 10 lakh per debenture, aggregating up to Rs 2,600 crore.”