Embassy REIT raises Rs 1,550 cr via NCDs, term loans to refinance existing debt

Embassy REIT raised Rs 1,550 crore via NCDs and term loans to refinance debt.

The move will save 113 bps annually in interest costs, improving financial efficiency.

Rs 750 crore came via NCDs at 6.97%, and Rs 800 crore via a 15-year term loan at 7.40%.

Embassy REIT owns 51.1 mn sq ft across 14 office parks in major Indian cities.