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India’s Embassy Office board OKs Rs. 30 billion debenture allotment
By Sarah Lizee
Olympia, Wash., May 3 – Embassy Office Parks REIT informed the Bombay Stock Exchange that the debenture committee of its board of directors met on Friday and approved an allotment of Rs. 30 billion of secured nonconvertible debentures, tranche A.
The debentures will be issued on a private placement basis, according to a notice.
They are proposed to be listed on the wholesale debt market segment of the BSE Ltd.
As previously reported, on April 23 the committee met and approved an issue of up to Rs. 36.5 billion of secured redeemable nonconvertible debentures split into two tranches. Tranche A was to include up to Rs. 30 billion of debentures and tranche B was to include up to Rs. 6.5 billion of debentures.
The real estate investment trust is based in Bengaluru, India.
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