CapitaLand India Plans $550 Million Debt Sale to Trim FX Costs

CapitaLand India Trust Management Pte. plans to raise as much as 50 billion rupees ($550 million) of rupee-denominated debt in India over the next three years, in an effort to improve tax efficiency and lower currency hedging costs, Chief Executive Officer Gauri Shankar Nagabhushanam said.

The move marks a strategic pivot for the Singapore-listed trust as higher global interest rates and currency volatility prompt real estate firms to rethink their funding structures. Increasing local borrowings would allow the trust to avoid a 15% withholding tax on Singapore-based debt and trim hedging costs.