Mindspace REIT Takes Green Leap with IFC Bond Issue

Mindspace Business Parks REIT raises Rs 550 crore via bonds from International Finance Corporation, enhancing sustainability initiatives. This follows a prior Rs 650 crore fundraising through Sustainability-Linked Bonds. The company aims to expand green-certified office spaces across major Indian cities.

Mindspace Business Parks REIT has successfully raised an additional Rs 550 crore from the International Finance Corporation (IFC) by issuing bonds.

IFC, the private sector investment arm of the World Bank Group, supports sustainable investment endeavors like these. This latest effort comes after Mindspace REIT initially secured Rs 650 crore through the issuance of Sustainability-Linked Bonds (SLBs) in June 2024.

The bonds are set to mature in eight years, furthering Mindspace's commitment to sustainability. "This issuance marks our significant leap forward in our sustainability journey," expressed Ramesh Nair, Managing Director and CEO of Mindspace REIT.

(With inputs from agencies.)