Embassy Office Parks REIT Cuts Debt, Boosts Growth Potential

Embassy Office Parks REIT has successfully secured Rs 1,550 crore through debentures and term loans to refinance its existing debt load, reducing annual interest outlay by 113 basis points.

This strategic financial maneuver includes Rs 750 crore in Non-Convertible Debentures (NCDs) and a Rs 800 crore term-loan from a major bank, with interest rates of 6.97% and 7.40% respectively.

According to CEO Ritwik Bhattacharjee, this refinancing supports Embassy REIT's strategy for financial optimization, positioning the company for future growth in its extensive portfolio across major Indian cities.

(With inputs from agencies.)