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Mindspace Business Parks REIT has accepted bids for its INR 7 billion bond issuance, which carries a five-year maturity and a quarterly coupon of 7.1485%. According to bankers involved in the process, the issue drew commitments worth around USD 79.64 million. Investor bids were invited a day earlier and evaluated before being finalised. Rated AAA by Crisil, the offering includes both a base size and a greenshoe option, reflecting strong demand for high-quality corporate debt. While the REIT did not comment on the development, the successful allotment highlights steady investor interest and supports the organisation's ongoing debt-raising and financial strategy.
Mindspace Business Parks REIT accepted bids for its INR 7 billion bond issuance last week, as confirmed by three bankers familiar with the transaction. The bond series, which will mature in five years, attracted commitments amounting to USD 79.64 million based on the prevailing exchange rate. Advertisement
The REIT is offering a coupon of 7.1485%, payable on a quarterly basis. Bankers explained that commitment bids from investors and lenders had been invited a day earlier, and the responses had been evaluated before the bids were formally accepted.
The company chose not to respond to an email query sent by Reuters seeking further comment on the transaction. According to information available, the issue is rated AAA by Crisil, and the size incorporates both the base issue and a greenshoe option where applicable.
The acceptance of bids for the Mindspace Business Parks REIT bond issuance reflects steady appetite for high-rated corporate debt in the domestic market. With a five-year maturity structure and a quarterly coupon of 7.1485%, the instrument has drawn attention from both bankers and institutional investors. Although the REIT did not provide direct comments on the development, the allotment activity earlier this week signals continued engagement from the organisation in debt-raising avenues. The AAA rating further reinforces investor confidence and supports the REIT's ongoing financial strategy.
Source - Reuters
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