At a time when the covid-19 pandemic has disrupted normal business operations and put cash flows under stress, Bengaluru-based real estate developer Embassy Property Developments Pvt Ltd has raised $180 million ( ₹1,355 crore) in debt to help with working capital requirements and repayment of existing loans, said two people aware of the development.

— Mint

Embassy Property Developments Private Limited issued listed Principal Protected Market Linked Debentures (PP-MLD) for an aggregate amount of INR 13.55 billion by EPDPL to certain investors for the purposes of raising financing to be utilised to refinance existing debt.

Khaitan & Co advised Embassy Property Developments Private Limited led by a team of partner Rajiv Khaitan, partner Udayarkar Rangarajan, principal associate Prashanth Ramdas, associate Anvita Oswal and associate Vishakha Sharma.

2020-04-03

Deal value: USD 180 million

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