Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has successfully raised INR 500 crore through a 10-year Non-Convertible Debenture (NCD) issuance. The debentures carry a fixed coupon of 7.63% per annum payable quarterly and were fully subscribed by one of India's leading life insurance companies. The issuance has received AAA/Stable ratings from both CRISIL and ICRA. Proceeds will be used to refinance existing borrowings. This is consistent with the REIT's strategy to lock fixed rates for longer durations, ensuring predictability of debt servicing costs and protection against interest rate volatility. With this transaction, Mindspace REIT has cumulatively raised approximately INR 16,400 crore through various capital market instruments.
The NCD issuance strengthens Mindspace REIT's balance sheet by extending debt maturity and locking in a fixed rate of 7.63% for 10 years, providing cash flow stability. The AAA-rated subscription by a leading insurer signals strong institutional confidence in the REIT's creditworthiness and stable income-generating office portfolio.