Embassy Office Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Embassy Office Parks REIT has raised ₹2,000 crores through coupon-bearing Non-Convertible Debentures (NCDs) at an effective interest rate of ~7.21% for a 3-year tenor. The Series XIII NCDs 2025 received strong demand, with 11 institutional investors participating, and were assigned a 'AAA/Stable' rating by CRISIL. The proceeds will be used to refinance existing debt, generating annual interest savings of approximately 77 basis points. Additionally, the REIT will exercise the call option on its Series IX NCDs of ₹500 crores (carrying a higher coupon of 8.03%) for early repayment on June 4, 2025, ahead of the original September 2025 maturity.
This is a credit-positive move for unitholders — refinancing at a lower rate reduces interest costs and strengthens the balance sheet, while the AAA rating and broad institutional participation highlight strong lender confidence in Embassy REIT.