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Shapoorji Pallonji Group is raising $2.7 billion in private credit.
Shapoorji Pallonji Group is raising $2.7 billion in private credit, backed by a Tata Sons stake.
KEY POINTS
- The fundraising includes the group's first-ever $1 billion US dollar tranche offering around 14% yield.
- Milestones for investors are linked to a potential Tata Sons IPO or settlement within 18 months.
- CareEdge Ratings downgraded Goswami Infratech's bonds to B+ negative due to delayed fundraising.
- New financing is specifically backed by a 9.185% Tata Sons stake held via Cyrus Investments.
COMPANIES
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