Embassy Office Parks REIT Raises ₹1,000 Crore Through NCD Issue

Embassy Office Parks REIT has raised ₹1,000 crore through the issue of non-convertible debentures (NCDs), with the proceeds to be used for refinancing its existing debt. The three-year issue has been fully subscribed to by a leading European multinational bank. 

The NCDs carry an initial coupon rate of 6.97% and are structured as floating-rate instruments. The transaction also represents the first financing by a scheduled commercial bank to an Indian REIT at the trust level. 

Embassy REIT Raises ₹1,000 Crore 

The fundraising has been completed through three-year floating-rate NCDs. The issue was fully subscribed by a leading European multinational bank, with an initial coupon rate of 6.97%. 

The ₹1,000 crore raised will be used to refinance the REIT's existing debt. 

Transaction Marks Trust-Level Bank Financing 

The financing follows the RBI framework announced in June 2026, which permitted commercial banks to finance REITs. 

According to the company, this transaction is the first financing by a scheduled commercial bank to an Indian REIT at the trust level. 

Management Highlights Long-Term Funding Access 

Amit Shetty, Chief Executive Officer of Embassy REIT, said the ₹1,000 crore fundraise is a significant milestone for Embassy REIT and the evolution of India's REIT market. 

He added that continued regulatory support from SEBI and RBI has strengthened access to long-term funding for REITs. 

Portfolio Spans Five Major Markets 

Embassy REIT owns and operates more than 52 million square feet of office space across Bengaluru, Mumbai, Pune, the National Capital Region and Chennai. 

The portfolio provides the underlying office-space base for the REIT across these major commercial markets. 

Read More: LPG Customer Base Declines After 10 Years of Growth Across India! 

Conclusion 

The ₹1,000 crore NCD issue gives Embassy Office Parks REIT funding to refinance its existing debt. The transaction also establishes a trust-level financing precedent involving a scheduled commercial bank under the RBI's 2026 framework. 

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