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The proposed IFC investment is a loan of up to INR 20,700 million (the INR equivalent of US$250 million) in tranches to Nexus Select Trust. The investment will be structured as a Sustainability-Linked Bond (SLB) with climate-related Sustainability Performance Targets (SPTs). The proceeds will be used for acquisitions (directly or indirectly through its SPV’s), repayment/ refinancing of financial indebtedness (NXST or its SPV’s), and/or extending loan to its SPV’s for enhancement works of NXST’s properties or undertaking construction, payment of fees and issue expenses and other general corporate purposes. NXST is a AAA rated (by CRISIL - S&P affiliate and ICRA - Moody’s affiliate) Real Estate Investment Trust (REIT) and is India’s only listed REIT in the retail space. Its portfolio comprises of 17 Grade-A urban consumption centers (UCCs or malls) across 14 cities spanning 9.9 million square feet (msf) of leased retail area, two hotel assets (354 keys), three office assets (1.3 msf) and one renewable power plant (15 MW - AC). Nexus Select Mall Management Private Limited is the Investment Manager (IM) to NXST.