Embassy REIT Allots ₹1,000 Cr Series XVIII Debentures

Embassy Office Parks REIT has announced the allotment of 1,00,000 listed, rated, secured, redeemable, non-convertible debentures (Series XVIII) aggregating to ₹1,000 Crore. The debentures were issued on a private placement basis with a tenure of 2 years 11 months and 28 days. The coupon rate is floating, linked to the 3-month MIBOR-OIS rate plus a spread of 150 basis points, reset quarterly. The initial coupon rate is 6.97% per annum. The issue price was discovered via an electronic book building platform, with Embassy REIT receiving ₹1,000.07 Crore against the principal amount. These debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.