India New Issue-Embassy Office Parks REIT to issue 2-year bonds - bankers

Embassy Office Parks REIT

30/08/2023 03:58

MUMBAI, Aug 30 (Reuters) - India's Embassy Office Parks REIT  EMBA.NS  plans to raise 5
billion Indian rupees ($60.52 million) selling bonds maturing in two years, three bankers said
on Wednesday.
    The company will pay a coupon of 8.03% and has invited bids for the issue on Thursday.
Earlier this month, it had raised 5 billion rupees through five-year bonds at 8.10% coupon.
 
 
 Here is the list of deals reported so far on Aug. 30: 
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 Embassy Office     2-yr          8.03           5               Aug. 30      AAA (Crisil,
 Parks REIT                                                                   Care)
 Aditya Birla        9-yr and 10  8.25% (yield)             2.7  Aug. 29      AAA(Icra, India
 Finance reissue            mnts                                              Ratings)
 ESAF Small           5-yr and 8  11.25               0.5 + 0.5  Sept. 1      A(Care)
 Finance Bank               mnts                                              
 
*Size includes base plus greenshoe for some issues

($1 = 82.6220 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))