TT&A advised Indian branch of a leading European Multinational Bank as the Anchor Investor, and Catalyst Trusteeship Limited as the Debenture Trustee in relation to the issuance of senior, secured, listed, transferable, redeemable, non-convertible debentures aggregating to INR 1000,00,00,000 by Embassy Office Parks REIT. The financing reinforces the position of Embassy Group as one of the leading real estate developers. 

This is a landmark transaction as it is the first financing by a scheduled commercial bank to an Indian REIT at the trust level. This followed the change in RBI regulations allowing banks to provide financings to REITs and has opened an important source of institutional capital for REITs. 

TT&A Team: Nidhi Rani & Nakul Sonejee – Partners; Shambhavi Shivdikar – Senior Associate and Ishika Garg & Liza Dsa – Associates