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 1,20,000 secured, listed, rated, redeemable, non-cumulative, non-convertible debentures (NCDs) of face value INR 1,00,000 each, aggregating to INR 1,200 crores. The NCDs carry a coupon rate of 6.9601% per annum, payable quarterly, and have a 3-year tenor with final redemption on December 8, 2028. The allotment was done via the multiple yield allotment method, with the REIT receiving INR 1,200.10 crores (a small premium of about INR 10.76 lakhs over face value). This issuance is part of the borrowing plan approved on October 17, 2025, which allows net debt up to INR 11,500 crores for the REIT and its asset SPVs in aggregate, subject to the regulatory cap of 33% of total assets for consolidated borrowings.
The REIT has successfully raised INR 1,200 crores of long-term debt at a competitive rate, which will likely be used to refinance existing debt or fund portfolio needs. Unitholders should note incremental interest outflows (about INR 20.9 crores per quarter) and a modest increase in leverage, though the issue remains well within the 33% regulatory borrowing limit. No immediate unit dilution; impact on distributions depends on the yield earned on deployed capital versus the 6.96% cost.