Embassy REIT raises ₹1,400 cr via 10-Year NCDs, doubles fixed-rate debt duration in FY2025

Embassy Office Parks REIT has raised ₹1,400 crore through its second 10-year Non-Convertible Debenture (NCD) issuance of the financial year. The issuance was priced at a fixed coupon of 7.49 per cent for a 10-year tenor and was fully subscribed by one of India’s largest life insurance companies.

With this issuance, the REIT has cumulatively raised ₹3,400 crore through 10-year NCDs this financial year, effectively doubling the duration of its fixed-rate debt book.

Amit Shetty, Chief Executive Officer of Embassy REIT, said, “This latest raise is part of our broader capital-raising strategy to extend the average duration of our debt portfolio while market conditions remain favourable. This transaction marks our second 10-year debt issuance within the same financial year, underscoring our consistent ability to access long-term capital at competitive rates.”

The NCDs carry the highest credit ratings of AAA/Stable from both CRISIL and CARE. The REIT’s investor base across the insurance and pension sectors has grown to over 23 institutional investors, reflecting strong demand for long-tenor, investment-grade instruments.

Published on March 5, 2026