Brookfield REIT accepts bids for debut 5-year bonds, bankers say

About this update from Brookfield India Real Estate Trust

Brookfield India Real Estate Trust NSE:BIRET.RR has accepted bids worth 20 billion rupees ($221.60 million) for sustainability-linked bonds maturing in five years, three merchant bankers said on Thursday.The real estate investment trust, the first listed REIT in India, will pay a coupon of 7.06%, and this would be paid on a quarterly basis, they said.It had invited bids from bankers and investors earlier in the day. International Finance Corporation (IFC) will be the anchor investor for the issue.Brookfield REIT did not immediately respond to a Reuters email seeking comment.Here is the list of deals reported so far on December 18: IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRatingBrookfield REIT5 years7.06 (quarterly)20December 18AAA (Crisil, Icra)Tata Power3 years7.0510December 18AA+ (Crisil)Tata Power5 years7.2510December 18AA+ (Crisil)*Size includes base plus greenshoe for some issues($1 = 90.2540 Indian rupees)

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