Mumbai, October 25, 2024.
The first pure-play Retail Real Estate Investment Trust (REIT) in India, Nexus Select Trust on Wednesday said that it has successfully raised non-convertible debentures (NCDs) of 1000 crs coupon bearing at ~7.70%. These NCDs were raised in two Tranches of Rs. 600 crs and Rs. 400 crores and is non-amortizing with bullet repayment on maturity. The issue witnessed strong interest from both new and old investors evidencing a robust investor confidence in REIT’S ability to fuel inorganic growth through debt capital.
The Blackstone backed REIT’S current Loan to value Ratio (LTV) is only ~14% which gives them a big headroom for growth using debt capital , Nexus Selest Trust intends to use debt capital for acquiring new malls and for general corporate purpose. The NCDs arenow listed on the wholesale debt market of BSE Limited.