NEW DELHI: The executive committee of K Raheja Corp Investment Managers, manager to Mindspace Business Parks REIT (Mindspace REIT), has approved the allotment of 34,000 listed, rated, secured, non-cumulative, taxable, transferable, redeemable non-convertible debentures of Rs one lakh each aggregating to Rs 340 crore on a private placement basis.
The issuance is rated CRISIL AAA/Stable and [ICRA] AAA(Stable) by CRISIL Ratings and ICRA respectively.
The tenure of debentures is three years at a fixed coupon of 7.93% per annum payable quarterly.
In February 2024, the manager had approved issuance of non-convertible debt securities and/or commercial papers for an aggregate principal amount of up to Rs 2,500 crore in one or more tranches for a period upto FY 2025.
