Shapoorji Unit markets high-yield debt offering to raise up to $1 billion
Updated
Updated · Bloomberg · Apr 30
Shapoorji Unit markets high-yield debt offering to raise up to $1 billion
6 articles · Updated · Bloomberg · Apr 30
The Indian group is discussing the sale with investors including BlackRock and JPMorgan Chase, offering yields of at least 14%, according to people familiar with the matter.
Terms remain under negotiation and could still change as Shapoorji and Pallonji seeks fresh capital through the proposed bond issue.
The fundraising comes even after the country’s largest private credit borrower was allowed to delay repayment on existing debt, underscoring continuing pressure on its balance sheet.
Is a 14% yield enough for global giants to bet on a borrower that just delayed its other debt repayments?
Will the potential IPO of Tata Sons be the ultimate key that unlocks this high-risk, high-yield bond deal?