Mindspace REIT raises Rs 340 crore through NCDs, ET RealEstate

March 22, 2024

NEW DELHI: The executive committee of K Raheja Corp Investment Managers, manager to Mindspace Business Parks REIT (Mindspace REIT), has approved the allotment of 34,000 listed, rated, secured, non-cumulative, taxable, transferable, redeemable non-convertible debentures of Rs one lakh each aggregating to Rs 340 crore on a private placement basis.

The issuance is rated CRISIL AAA/Stable and [ICRA] AAA(Stable) by CRISIL Ratings and ICRA respectively.

The tenure of debentures is three years at a fixed coupon of 7.93% per annum payable quarterly.

In February 2024, the manager had approved issuance of non-convertible debt securities and/or commercial papers for an aggregate principal amount of up to Rs 2,500 crore in one or more tranches for a period upto FY 2025.

  • Published On Mar 22, 2024 at 09:31 AM IST

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