Embassy Office Parks REIT announced today that it has successfully raised a term loan of Rs 1,000 crore from Bajaj Housing Finance. Embassy REIT will use the proceeds of this debt raise primarily to repay existing construction debt and for general corporate purposes. With this refinance, Embassy REIT achieves interest savings through a ~60 basis points (bps) positive refinancing spread, and the long tenor loan helps extend its debt maturity profile.
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