Mindspace Business Parks REIT has raised Rs 500 crore through a 10-year NCD issue, priced at a 7.63% coupon. The offer was fully subscribed by an insurer. The funds will be used to refinance existing debt, improve cost predictability, and strengthen long-term financial stability supported by strong credit ratings.
Care Ratings has downgraded Goswami Infratech’s NCDs after pointing to delayed fundraising, an extended redemption timeline, weak cash flows, and higher refinancing risk. The rating agency said the company’s holding structure and dividend reliance further limit buffers, though past refinancing success and strategic stakes offer some support to credit flexibility.
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