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Embassy Office Parks REIT announces the successful placement of Embassy REIT Series I Tranche II Non-Convertible Debentures 2019

22 November 2019

Embassy Office Parks REIT (NSE: EMBASSY/BSE: 542602) (“Embassy REIT”), India’s first listed Real Estate Investment Trust and the largest in Asia by area, announced today that it has successfully priced and allotted by way of a private placement, Rs. 6.5 billion (Indian Rupees Six billion Five Hundred million Only) of rupee-denominated, listed, rated, secured, redeemable and non-convertible debentures (“NCDs”). The NCDs will be listed on the Wholesale Debt Market of the BSE Limited (“BSE”).

The NCDs (Series I Tranche II NCDs) carry a face value of Rs. 1,000,000 (Indian Rupees One million Only) with yield to maturity of 9.05% and will mature in June 2022 (co-terminus with maturity date of the Series I Tranche I NCDs).

The transaction is in line with the overall financing plan disclosed in the Final Offer Document dated March 27, 2019 in relation to the Initial Public Offering of Units that Embassy Office Parks REIT filed with the Securities and Exchange Board of India (“SEBI”).

Transaction Background

On April 23, 2019, the Debenture Committee of the Board had approved the issue of NCDs aggregating
Rs. 36.5 billion (Indian Rupees Thirty-Six billion Five Hundred million) in two tranches. Of this, allotment of the first tranche, i.e., Series I Tranche I NCDs aggregating Rs.30 billion (Indian Rupees Thirty billion) was completed on May 3, 2019. On November 22, 2019, the Debenture Committee of the Board approved the allotment of the second tranche, i.e., Series I Tranche II NCDs aggregating Rs.6.5 billion (Indian Rupees Six billion Five Hundred million Only).

Disclaimer

This press release is prepared for general information purposes only. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (the “Manager”) and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy or completeness of the content hereof. Each recipient will be solely responsible for its own assessment of the market and the market position of Embassy REIT.

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements or industry results, to differ materially from those expressed or implied by such forward-looking statements. Given these risks, uncertainties and other factors, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager assumes no responsibility to amend or update any forward-looking statements.

About Embassy REIT

Embassy REIT is India’s first and only listed REIT. Embassy REIT comprises 25 million square feet (“msf”) of completed and operational commercial properties across India. With approximately 8 msf of on-campus development in the pipeline, the total portfolio spans 33 msf feet across seven Grade A office parks and four city-centre office buildings in India’s best performing office markets of Bengaluru, Mumbai, Pune and the National Capital Region. The portfolio is home to over 165 blue chip corporate occupiers, and comprises 75 buildings with strategic amenities, including two completed hotels, two under-construction hotels, and a 100MW solar park that supplies renewable energy to park tenants.

For more information please contact:

Ritwik Bhattacharjee
Head of Investor Relations
Email: ir@embassyofficeparks.com
Phone: +91 80 3322 2222

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