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Mindspace REIT approves issuance of NCDs

Capital Market 

Mindspace Business Parks REIT's board approved the issuance of non-convertible rupee denominated debentures of upto Rs 500 crore in one or more tranches.

The announcement was made after market hours yesterday, 14 September 2020.

Shares of Mindspace Business Parks REIT rose 0.66% to Rs 304 on BSE. The scrip hovered in the range of Rs 304 to Rs 304.95 so far.

Mindspace Business Parks REIT has approved the issuance of listed, rated, principal protected - market linked secured, redeemable, non-convertible rupee denominated debentures of upto Rs 500 crore, in one or more tranches.

The board has also granted authority to the Executive Committee of the Manager to decide and approve, from time-to-time, any further borrowings as may be required to be made by Mindspace REIT upto 25% of the value of total assets of Mindspace REIT.

Mindspace Business Parks REIT owns a quality office portfolio located in four key office markets of India. Its portfolio includes a total leasable area of 29.5 million sq ft with five integrated business parks and five independent offices across the Mumbai Metropolitan Region, Pune, Hyderabad, and Chennai.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, September 15 2020. 09:16 IST