Embassy REIT raises fund from Bajaj Housing Fin to repay loans
Real Estate

Embassy REIT raises fund from Bajaj Housing Fin to repay loans

Embassy Office Parks REIT has secured a Rs 10 billion term loan from Bajaj Housing Finance to primarily repay existing debt. Embassy REIT stated that the proceeds of this debt raise will be used primarily to repay existing construction debt and for general corporate purposes.

Embassy REIT saves money on interest with this refinance thanks to a refinancing spread of 60 basis points (bps), and the long tenor loan helps extend its debt maturity profile.

Amidst a rising interest rate environment, we are pleased to announce this debt raise of Rs 1,000 crore from a marquee NBFC at industry-leading terms.

The entire debt book is now at fixed rates for an average of 18 months, demonstrating active capital management to the benefit of unitholders.

Embassy REIT remains well-positioned to finance its growth, thanks to its access to a growing capital pool that includes banks, mutual funds, insurers, FPIs, and now NBFCs.

Embassy REIT is the first publicly traded Real Estate Investment Trust in India. In Bengaluru, Mumbai, Pune, and the National Capital Region, it owns and operates a 43.6 million sq ft portfolio of eight infrastructure-like office parks and four city-centre office buildings (NCR). Its portfolio includes 34.3 million sq ft of finished operating area.

Also read:
Godrej Properties acquires Raj Kapoor's Mumbai bungalow
Axis-Tishman Speyer's jv raises Rs 4 billion for commercial real estate


Embassy Office Parks REIT has secured a Rs 10 billion term loan from Bajaj Housing Finance to primarily repay existing debt. Embassy REIT stated that the proceeds of this debt raise will be used primarily to repay existing construction debt and for general corporate purposes. Embassy REIT saves money on interest with this refinance thanks to a refinancing spread of 60 basis points (bps), and the long tenor loan helps extend its debt maturity profile. Amidst a rising interest rate environment, we are pleased to announce this debt raise of Rs 1,000 crore from a marquee NBFC at industry-leading terms. The entire debt book is now at fixed rates for an average of 18 months, demonstrating active capital management to the benefit of unitholders. Embassy REIT remains well-positioned to finance its growth, thanks to its access to a growing capital pool that includes banks, mutual funds, insurers, FPIs, and now NBFCs. Embassy REIT is the first publicly traded Real Estate Investment Trust in India. In Bengaluru, Mumbai, Pune, and the National Capital Region, it owns and operates a 43.6 million sq ft portfolio of eight infrastructure-like office parks and four city-centre office buildings (NCR). Its portfolio includes 34.3 million sq ft of finished operating area. Also read: Godrej Properties acquires Raj Kapoor's Mumbai bungalow Axis-Tishman Speyer's jv raises Rs 4 billion for commercial real estate

Next Story
Infrastructure Urban

Canal Water Boost for Mudki

In a significant push for public health and urban development, MLA Rajneesh Dahiya has announced a Rs.280 million canal water supply project for Mudki town in the Ferozepur Rural constituency. The initiative aims to provide clean drinking water to every household within Mudki’s municipal limits. Speaking about the development, Dahiya said the project falls under the Centre’s AMRUT (Atal Mission for Rejuvenation and Urban Transformation) scheme and is being carried out with the support of Punjab Chief Minister Bhagwant Singh Mann and Local Government Minister Dr. Inderbir Nijjar. “This ..

Next Story
Infrastructure Transport

6 Tunnel Boring Machines Idle in Chennai

Six tunnel boring machines (TBMs) deployed by the Chennai Metro Rail Limited (CMRL) are currently lying idle beneath city roads, stuck in limbo due to delayed construction of underground stations at Moolakadai, Perambur, and Mandaveli. The TBMs, launched as part of Corridor 3 of the Phase II Metro project from Madhavaram to SIPCOT, have reached their designated stations but are unable to proceed as the station boxes are incomplete. Without a completed diaphragm wall or station box, the machines cannot break through or be dismantled for reuse. According to CMRL officials, the root of the dela..

Next Story
Infrastructure Transport

Mumbai Metro 3 Nears Launch

The Mumbai Metro Rail Corporation shared a sneak peek of the newly completed Acharya Atre Chowk station on Metro Line 3 (Aqua Line) this Sunday, drawing both praise and impatience from the public. Located on the 9.77 km stretch between Bandra Kurla Complex (BKC) and Worli, the underground station is part of a long-anticipated corridor that promises to ease traffic and boost east-west connectivity. The social media update, posted by the handle @MumbaiMetro3, featured images of the station’s sleek new interiors. But the post quickly sparked a flurry of comments, with several users demanding c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?