Embassy REIT raises ₹1,000 cr via debentures to refinance debt
The transaction marks the first financing by a scheduled commercial bank to an Indian REIT at the trust level
Embassy Office Parks REIT, a realty firm, has successfully raised ₹1,000 crore through the issuance of non-convertible debentures (NCDs) to a European bank. The company plans to utilize the funds to refinance its existing debt. According to a regulatory filing, the NCDs, which have been fully subscribed by a leading European multinational bank, have a floating-rate and a three-year maturity.
The initial coupon rate is set at 6.97 percent. This marks the first time a scheduled commercial bank has financed an Indian REIT at the trust level, following the Reserve Bank of India's framework announced in June 2026 that allows commercial banks to provide financing to REITs. Amit Shetty, the Chief Executive Officer of Embassy REIT, stated that the ₹1,000 crore fund raise is a significant milestone for the company and for the growth of India's REIT market, highlighting the importance of continued regulatory support from SEBI and the RBI in strengthening access to long-term funding for REITs.
Embassy REIT manages a portfolio of over 52 million square feet of office space located in Bengaluru, Mumbai, Pune, the National Capital Region, and Chennai.
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Also reported by 1 other outlet
- Embassy Reit raises ₹1,000 crore through debentures to refinance debt business-standard.com
