Home >Companies >News >Mindspace REIT raises 200 crore via debentures

MUMBAI: Mindspace Business Parks REIT on Thursday said it has raised 200 crore by issuing debentures on a private placement basis.

In a filing to the stock exchanges, the company said the executive committee of K Raheja Corp Investment Managers LLP, manager to Mindspace Business Parks REIT, has approved allotment of 2,000 non-convertible debentures of face value of 10 lakh each for an aggregate principal amount of 200 crore on a private placement basis.

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The Non-Convertible Debentures are assigned a final rating of CRISIL AAA/Stable and are proposed to be listed on the wholesale debt market (WDM) segment of the BSE, with a tenure of 36 months and a coupon of 6.45% per annum.

Mindspace Business Parks is India's second REIT (Real Estate Investment Trust) which was listed in August after a successful public issue of about 4,500 crore. It has a commercial portfolio of 23 million square feet across key office markets of Hyderabad, Mumbai, Pune, and Chennai

Units of Mindspace Business Parks REIT rose 0.5% to end at 327.79 apiece today, while the benchmark closed 0.5% higher at 46917.57.

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