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Mindspace REIT completes Commercial Papers Issuance of `100-cr

Mindspace Business Parks REIT (Mindspace REIT),owner and developer of quality Grade A office portfolio located in four keyoffice markets of India, has completed issuance of Commercial Papers of `100-cr for a maturity of three months atan interest rate of 7.20 per cent per annum. Mindspace REIT’s Commercial Papersare rated CRISIL A1+, the highest rating by CRISIL.

The funds will be utilised towards the workingcapital requirements of Mindspace REIT’s Asset SPVs. Loan to value of MindspaceREIT stood at 16.8 per cent as on 30 September 2022, lowest amongst its peers.

With this move, Mindspace REIT further broadensits debt profile.

Speaking on this funding,Vinod Rohira, CEO, said, “After successfully exploring capital market fundraising through issuance of multiple debentures, we are glad to be the firstIndian REIT to raise funds through Commercial Papers. This is part of ourlarger strategy to diversify our lender base and optimise borrowing costs andmaturity profile of our well-staggered debt book. Going forward, as part of ourlarger ESG commitment, we will also explore opportunities to raise funds viaissuance of green bonds.”
NEWS ----------SEPTEMBER 2018 Issue
Cygni Energy raises $6.4 Mn to power growth & expansion

Hyderabad-based Cygni Energy Pvt. Ltd., an innovative Solar-DC solutions start-up, has announced that it has raised funds of $6.4-mn through a combination of equity and debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product start-ups, and the debt by IndusInd B   READ MORE...
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Cosmos Solutions receives US$950-mn for new eco-friendly energy product
Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos   READ MORE...
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Black & Veatch bags IEDCL’s 41MW hybrid project
Black & Veatch has been selected to provide engineering expertise to IL&FS Energy Development Company Limited’s (IEDCL) 41 megawatt (MW) solar photovoltaic (PV), wind, and battery storage hybrid project in India. Core components of the project are 25 MW solar PV and 16 MW wind power generation systems, coupled to an optimised energy storage system.

Technical services for the   READ MORE...