The Mindspace Business Parks REIT on Thursday announced that the Executive Committee has approved allotment of non-convertible debentures (NCDs) to the tune of Rs200cr on private placement.
About Company
Mindspace Business Parks is India”s second REIT (Real Estate Investment Trust) and got listed this year after a successful launch of public issue of about Rs 4,500 crore.
Quantity & Face Value
The company will allot 2,000 non-convertible debentures of the face value of Rs 10 lakh each for an aggregate principal amount of Rs 200 crore.
Listed Exchange
The non-convertible debentures are proposed to be listed on the wholesale debt market (WDM) segment of the BSE Limited.
Tenure and Coupon rate
The tenure of the debentures is 36 months with a coupon rate of 6.45 per cent per annum.
Fund Utilisation
the company would utilise the fund to refinance its existing debt and cut interest cost.
CRA’s Rating
The Non-Convertible Debentures are assigned a final rating of CRISIL AAA/Stable.
Stock Market Impact
On Sensex, Mindspace finished at Rs327.79 per piece up 0.52%.
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