Embassy Office Parks REIT approves issuance of NCDs worth Rs 1,050 crore

NEW DELHI: The debenture committee of the board of directors of Embassy Office Parks Management
Services, manager to Embassy Office Parks REIT (Embassy REIT), has approved the issuance of 1,05,000 listed, rated, secured, redeemable, transferable, rupee denominated, non-convertible debentures
(NCDs) with a face value of Rs one lakh each by Embassy REIT on a private placement basis for an aggregate amount of Rs 1,050 crore for a term of 24 months from the deemed date of allotment, the
company said in a BSE filing. The proceeds shall be utilized for refinancing of existing loan, capital expenditure and working capital
requirement of SPVs of Embassy REIT and general corporate purposes.

The board in January, 2023 had approved the raising of debt up to an aggregate amount of Rs 5,100 crore
through any means and for any purposes as may be permitted by applicable law including for refinancing
existing debt.