Mindspace Business Parks which is India”s second REIT (Real Estate Investment Trust) said in a regulatory filing that the executive committee K Raheja Corp Investment Managers LLP, manager to Mindspace Business Parks REIT, has approved the allotment of 2,000 non-convertible debentures of the face value of Rs 10 lakh each for an aggregate principal amount of Rs 200 crore on a private placement basis. The non-convertible debentures are proposed to be listed on the wholesale debt market (WDM) segment of the BSE Limited. The tenure of the debentures is 36 months with a coupon rate of 6.45 per cent per annum. The company would utilise the fund to refinance its existing debt and cut interest cost.