Shapoorji Pallonji Seeks 1-Month Extension on $1.5 Billion Bonds as Refinancing Drags
Updated
Updated · Bloomberg · Jun 24
Shapoorji Pallonji Seeks 1-Month Extension on $1.5 Billion Bonds as Refinancing Drags
2 articles · Updated · Bloomberg · Jun 24
Summary
Shapoorji Pallonji has asked bondholders to delay repayment of 143 billion rupees ($1.5 billion) of zero-coupon debt owed by Goswami Infratech beyond the June 30 maturity by at least one month.
A 30-basis-point consent fee is being offered to secure approval, according to people familiar with the private discussions.
The request signals the Indian conglomerate still has not completed refinancing for the unit’s debt, forcing it to seek more time from creditors.