Brookfield India REIT Issued Commercial Papers Aggregating Rs 750 Cr
Brookfield India REIT has issued and allotted 15,000 dematerialized, rupee denominated, listed and rated commercial papers aggregating to Rs 750 crore at a face value of Rs 5,00,000 each (Commercial Papers)," it said in the regulatory filing. The funds will be utilized for repayment of debt of the SPVs of Brookfield India REIT and towards transaction expenses, capital expenditure and working capital requirements of Brookfield India REIT and its SPVs. In a separate regulatory filing, the company informed that it has completed the acquisition of 50% of the share capital of Candor Gurgaon One Realty Projects (Candor G1) by subscription to 1 equity share and 2 compulsorily convertible debentures and purchase of 5,031 equity shares and 4,559 compulsory convertible debentures of Candor G1 from BSREP India Office Holdings II and BSREP India Office Holdings. Reco Cerium, an affiliate of GIC, has also completed the acquisition of 50% of the share capital of Candor G1 by purchase of 5,032 equity shares and 4,561 compulsory convertible debentures of Candor G1 from BSREP India Office Holdings II. Brookfield India REIT and GIC affiliates have also subscribed to unlisted nonconvertible debentures of Candor G1 for an amount of Rs 531 crore each. Candor G1 will use the proceeds of this subscription towards payment of interest/coupon on compulsorily convertible debentures held by BSREP India Office.
Tags : Brookfield India REIT commercial papers debt transaction capital expenditure