Embassy Office Parks REIT, India's first listed real estate investment trust, has raised Rs 3,000 crore through private placement of debentures mainly to repay debt.
Embassy Office Parks, a joint venture between global investment firm Blackstone and realty firm Embassy Group, is a leading developer of commercial real estate. It launched the country's first real estate investment trust (REIT) to raise Rs 4,750 crore.
In a statement, the company said "it has successfully priced and allotted by way of a private placement Rs 30 billion of rupee-denominated, listed, rated, secured, redeemable and non-convertible debentures (NCDs)."
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