Embassy Office Parks REIT Approves ₹1,100 Crores Commercial Papers Issuance

Embassy Office Parks REIT, a real estate investment trust, has approved the issuance of listed, rated, redeemable, transferable, rupee denominated Commercial Papers for an aggregate amount of ₹1,100 Crores (Indian Rupees One Thousand One Hundred Crores only) in two tranches. The CP Tranche X Issue A is for ₹650 Crores with a tenure of 347 days, and CP Tranche X Issue B is for ₹450 Crores with a tenure of 342 days. The decision was made by the Debenture Committee of the Board of Directors of the Manager, with the condition that the total outstanding amount raised by Embassy REIT, its SPVs and Holdco, through Commercial Papers, does not exceed 10% of Embassy REIT’s consolidated outstanding debt. The proceeds from the issuance will be used for the repayment of existing debt and working capital purpose of Embassy REIT, its SPVs and Holdco.