Shapoorji Pallonji Launches $2.7 Billion Refinancing via 255 Billion-Rupee Bonds
Updated
Updated · Bloomberg · Jul 9
Shapoorji Pallonji Launches $2.7 Billion Refinancing via 255 Billion-Rupee Bonds
1 articles · Updated · Bloomberg · Jul 9
Summary
255 billion rupees ($2.7 billion) of planned refinancing has been set in motion by Shapoorji Pallonji through local-currency bond sales, easing concerns over near-term debt maturities.
About 150 billion rupees of rupee bonds will be issued by one subsidiary to investors including Farallon Capital, Davidson Kempner and Cerberus Capital, according to people familiar with the matter.
The proceeds will refinance debt at Goswami Infratech Pvt., a key step in the group’s broader effort to shore up funding and rebuild investor confidence after months of uncertainty.