Mindspace Business Parks raises Rs 100 cr debt for working capital needs ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 25
Mindspace Business Parks REIT has raised Rs 100 crore debt for working capital requirements. In a regulatory filing, Mindspace Business Parks REIT informed that it has completed an issuance of commercial papers of Rs 100 crore for a maturity of three months at an interest rate of 7.2 per annum. The funds will be utilised towards the working capital requirements of Mindspace REIT's asset SPVs (special purpose vehicle). Loan to value of Mindspace REIT stood at 16.8 per cent as on September 30, 2022. In September this year, capital markets regulator Sebi allowed Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to issue commercial papers. The move would enable

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