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Mindspace Business Parks REIT is planning to raise INR 6 billion through a two-year bond issue, according to banking sources. The proposed bonds will carry a coupon of 7.4913%, with commitment bids scheduled for Friday. The issue has received a AAA rating from Crisil, reflecting its strong credit profile. The planned fundraising comes as several highly rated issuers continue to tap the domestic debt market to meet refinancing and growth requirements amid steady investor demand for high-quality corporate bonds.
Mindspace Business Parks REIT is planning to raise INR 6 billion through the issuance of two-year bonds, according to banking sources. The proposed debt issue is expected to carry a coupon of 7.4913%, while commitment bids for the offering are scheduled to be invited on Friday.
The company has not issued an official statement on the proposed fundraising. It also did not immediately respond to a request for comment from Reuters.
The bond issue has been assigned a AAA rating by Crisil, indicating the highest level of creditworthiness. Such ratings generally help issuers attract institutional investors, including mutual funds, insurance companies and pension funds, seeking relatively low-risk fixed-income investments.
The proposed fundraising comes as activity in India's corporate bond market remains steady, with several highly rated companies accessing debt markets to raise capital for refinancing, business expansion and general corporate purposes. Real Estate Investment Trusts (REITs) have increasingly used bond issuances as part of their capital management strategy, complementing other financing options while maintaining financial flexibility.
On the same day, other issuers also approached the debt market. Jio Credit planned to raise INR 5 billion through five-year bonds carrying a coupon of 8.05% and an additional INR 5.25 billion through bonds with a tenure of three years and one month offering a coupon of 7.95%. Meanwhile, SMFG India Credit planned to raise INR 11 billion through three-year bonds carrying a coupon of 7.73%. Both Jio Credit issuances are rated AAA by Crisil and Care Ratings, while SMFG India Credit's proposed issue also carries AAA ratings from Crisil and Care Ratings.
Mindspace Business Parks REIT is one of India's listed office REITs, with a portfolio comprising Grade A office assets across key commercial markets including Mumbai, Pune, Hyderabad and Chennai. The REIT has continued to focus on maintaining high-quality office assets and long-term leasing arrangements with corporate occupiers.
Source Reuters
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