Embassy REIT allots ₹700 Cr NCDs at 7.49% coupon
Embassy Office Parks REIT has allotted 70,000 secured, redeemable, non-convertible debentures aggregating ₹700 crore on a private placement basis. The Series XVII Debentures carry a coupon rate of 7.49% per annum payable quarterly and have a tenor of 3 years from the deemed date of allotment of June 23, 2026. The issue price was discovered via the Electronic Book Building Platform of BSE Limited, and the REIT received a total consideration of ₹700.241 crore.
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Embassy Office Parks REIT has allotted 70,000 secured, redeemable, non-convertible debentures aggregating to a principal amount of ₹700 crore on a private placement basis. The Series XVII Debentures carry a coupon rate of 7.49% per annum payable quarterly and have a tenor of 3 years from the deemed date of allotment of June 23, 2026. The allotment was approved by the Borrowings Committee of the Board of Directors of Embassy Office Parks Management Services Private Limited, the Manager to Embassy REIT, through a resolution passed by circulation on June 23, 2026.
The issue price for the Series XVII Debentures was discovered using the multiple yield allotment method via the Electronic Book Building Platform of BSE Limited on June 22, 2026. Embassy REIT received a total consideration of ₹700.241 crore against the aggregate principal amount of ₹700 crore. The debentures have a face value of ₹1,00,000 each and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.
Proceeds from the issuance will be utilized towards the repayment of existing debt and/or for capital expenditure purposes of the special purpose vehicles of Embassy REIT. The committee had previously authorized the raising of debt up to an aggregate amount of ₹9,000 crore through various permitted modes, including refinancing existing debt.
Key Details of Series XVII Debentures
| Feature | Details |
|---|---|
| Issuer | Embassy Office Parks REIT |
| Instrument | Non-Convertible Debentures (NCDs) |
| Total Amount | ₹700 Crores |
| Consideration Received | ₹700.241 Crores |
| Number of Debentures | 70,000 |
| Face Value | ₹1,00,000 per debenture |
| Tenor | 3 years |
| Coupon Rate | 7.49% per annum |
| Allotment Date | June 23, 2026 |
| Nature | Secured, Redeemable, Transferable, Listed, Rated |
Historical Stock Returns for Embassy Office Parks REIT
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.72% | -0.16% | +4.74% | +3.02% | +15.12% | +26.48% |
How will the 7.49% coupon rate compare to prevailing market yields for similar REIT debt instruments over the next year?
What specific capital expenditure projects are prioritized for the proceeds, and how will they impact the REIT's rental income?
Will this issuance reduce Embassy REIT's overall cost of capital compared to the debt being refinanced?
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