Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has allotted 50,000 listed, rated, secured, non-convertible debentures worth INR 500 crores (INR 5 billion). Each debenture has a face value of INR 100,000 with a 10-year tenor maturing on May 6, 2036. The debentures carry a coupon rate of 7.63% per annum, payable quarterly, determined through bidding on BSE's Electronic Book Provider platform. This issuance is part of the REIT's approved debt-raising limit where net debt cannot exceed INR 15,700 crore and total consolidated borrowings cannot exceed 33% of total assets.
The REIT has successfully raised INR 500 crore through debt at 7.63%, a competitive rate for a 10-year instrument. This provides capital for growth or refinancing while maintaining the leverage within regulatory limits. For unit holders, the regular quarterly interest payments from a rated, secured debt instrument offer stability.