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Mindspace REIT taps IFC for 5.5-billion-rupee sustainable bond issue

BY Reuters | CORPORATE | 08/20/25 08:19 AM EDT

MUMBAI, Aug 20 (Reuters) - India's Mindspace Business Parks REIT has raised 5.5 billion rupees ($63.17 million) via a second sustainability-linked bond (SLB), subscribed entirely by International Finance Corp, the real estate investment trust said on Wednesday.

The AAA-rated bond has an eight-year tenure and has been directly placed with the International Finance Corporation (IFC), the company said in a statement.

The bond takes the office-focused REIT's total SLB issuance to 12 billion rupees. In June 2024, it raised 6.5 billion rupees in its debut SLB issue.

This issue is also the REIT's first under the new environment, social and governance (ESG) framework for debt securities introduced by India's markets regulator in June 2025.

Indian engineering and construction company Larsen & Toubro (L&T) also raised 5 billion rupees through the sale of ESG bonds in June. ($1 = 87.0620 Indian rupees) (Reporting by Khushi Malhotra; Editing by Janane Venkatraman)

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