Nexus

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             Nexus Select Trust (“Nexus” or “NXST”) is a listed real estate investment trust managed by Nexus Select Mall Management Pvt Ltd (“Manager”) and sponsored by Wynford Investments Limited ( part of the Blackstone Inc. affiliates). It is a significant player in the Indian retail industry, with 9.9 million sq. ft. of Grade A retail space across 17 retail malls (consumption centers) in 14 cities in India, managed through sixteen Special Purpose Vehicles (SPVs). Additionally, it owns three office spaces (1.3 million sq. ft.) and two hotel properties (354 keys) in its portfolio. 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. Previously, IFC has lent US$90 million to Aadhaar Housing Finance (#649369), where the Blackstone Group is a majority shareholder. The E&S performance for this project is Satisfactory.