Mindspace REIT Secures Rs 650 Crore Through IFC's Sustainability Linked Bonds

Mindspace Business Parks REIT has raised Rs 650 crore by issuing sustainability-linked bonds to the International Finance Corporation. The funds will be primarily used to refinance existing loans. These bonds, tied to ESG targets, mark Mindspace REIT as the first Indian REIT to undertake such an initiative.

Mindspace Business Parks REIT has successfully raised Rs 650 crore through the issuance of sustainability-linked bonds, with the International Finance Corporation (IFC) being the sole subscriber.

In a regulatory filing released on Tuesday, Mindspace REIT declared the funding will primarily go towards the refinancing of existing loans.

The bonds, aimed at meeting key ESG (Environmental, Social, and Governance) targets, signify a pioneering move as it becomes the first Indian REIT to issue sustainability-linked bonds.