Embassy Reit raises ₹1,000 crore through debentures to refinance debt

•Embassy Office Parks Reit raised ₹1,000 crore through non-convertible debentures (NCDs) from a European bank.

•The funds will be used to refinance existing debt at an initial coupon rate of 6.97 per cent.

•This is the first financing by a scheduled commercial bank to an Indian Reit at the trust level.

•The transaction supports India's Reit market evolution, citing regulatory support from Sebi and RBI.