Embassy Office Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Embassy Office Parks REIT's Debenture Committee approved the allotment of listed, rated, redeemable Commercial Papers (CP Tranche VII Issue) worth ₹4,000 million (₹400 crore) via a resolution passed by circulation. The CPs carry a 243-day tenor from the deemed date of allotment at a yield of 6.44%, and will be issued on a private placement basis. The instruments are proposed to be listed on the Wholesale Debt Market Segment of BSE. This is part of the REIT's ongoing short-term debt raising activity to manage its funding requirements.
This fresh borrowing of ₹400 crore increases the REIT's short-term debt obligations but provides additional liquidity. The 6.44% yield indicates the current market pricing for Embassy REIT's credit, which is relevant for investors tracking its borrowing costs.