An Embassy Office Parks REIT asset in Embassy Quadron. (Photo: Embassy REIT)

Embassy Office Parks REIT (Embassy REIT) has successfully raised INR10,500 million in coupon-bearing non-convertible debentures.

Embassy REIT will utilise the proceeds from this debt raise to refinance bank loans, which are due for an interest reset in the coming months.

Through this refinance at a 7.77% coupon, Embassy REIT will be able to secure approximately 138 basis points in interest savings, compared to the expected interest rate when repriced, said the REIT.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.