Mindspace REIT board approves raising up to Rs 17,100 crore via debt

The Executive Committee of K Raheja Corp Investment Managers, manager to Mindspace Business Parks REIT, approved raising up to Rs 17,100 crore through non-convertible debt securities and/or commercial papers in one or more tranches. Borrowing is subject to aggregate consolidated borrowings and deferred payments of Mindspace REIT and its HoldCo and Asset SPVs not exceeding 33 percent of total asset value, net of cash and cash equivalents.