Shapoorji Pallonji Group seeks up to $2.4 bn from lenders to refinance debt
9 months ago

Shapoorji Pallonji Group seeks up to $2.4 bn from lenders to refinance debt

Business Standard  

It’s also gauging interest from Davidson Kempner Capital Management and Cerberus Capital Management LP, the people said | File image By Saikat Das Shapoorji Pallonji Group is in talks with lenders including state-run Power Finance Corp., seeking to raise as much as Rs 20,000 crore, according to people familiar with the matter. It’s also gauging interest from Davidson Kempner Capital Management and Cerberus Capital Management LP, the people said. The proceeds from the lending, which would likely be a privately placed rupee-bond, will be partly used to refinance debt taken about three years ago by SP Group’s main investment vehicle Sterling Investment Corp. against shares in Tata Sons, the holding company of India’s diversified conglomerate Tata Group, the people said. Shapoorji Pallonji Group didn’t immediately offer comments when reached by Bloomberg News regarding the fund-raising plan.

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History of this topic

SP group firm Goswami’s high-yield debt sees ratings cut
6 months, 3 weeks ago

SP group firm Goswami’s high-yield debt sees ratings cut

Live Mint  

Financing plans of Shapoorji Pallonji group have received a setback with Care Ratings cutting the credit rating of group company Goswami Infratech Pvt. “The rating continues to remain tempered by the low operating cash flows of GIPL, with the entity being holding company and no major cashflow in form of interest/dividend either received in past or expected in the period …

SP group firm’s bond offers 16-17% yield but here’s the risk
1 year, 4 months ago

SP group firm’s bond offers 16-17% yield but here’s the risk

Live Mint  

The news of Goswami Infratech Pvt. “The new NCD issuance is proposed to be backed by monetization events comprising of port assets as well as Afcons Infrastructure Ltd wherein Goswami Infratech holds stake in the form of compulsorily convertible preference shares. Mint For bond holders though, there is back-up in the form of a letter of comfort from another SP …

SP raises ₹ 14,300 crore via high-yield debt
1 year, 5 months ago

SP raises ₹ 14,300 crore via high-yield debt

Live Mint  

MUMBAI : Shapoorji Pallonji Group has raised ₹14,300 crore from a clutch of private credit investors and high-net-worth individuals, pledging its shares in Tata Sons Ltd as collateral, primarily to refinance its debt, two people familiar with the development said. The group raised funds from private credit investors, including Cerberus Management, Davidson Kempner, and Varde Partners, and foreign banks such …

Bankers to go ahead with Shapoorji Pallonji recast plan
3 years, 8 months ago

Bankers to go ahead with Shapoorji Pallonji recast plan

Hindustan Times  

bThe Supreme Court’s verdict in favour of Tata Sons Ltd in the Tata-Mistry case may not affect the one-time restructuring plan of the Shapoorji Pallonji Group, but may have a bearing on its implementation. SP Group’s earlier attempts to raise funds from Toronto-based Brookfield Asset Management Inc. by pledging a portion of Tata Sons’ shares were nixed by the Tatas. …

Shapoorji Pallonji Real Estate sells over 600 flats worth Rs 400 crore in Pune
3 years, 10 months ago

Shapoorji Pallonji Real Estate sells over 600 flats worth Rs 400 crore in Pune

India TV News  

Realty firm Shapoorji Pallonji Real Estate has sold over 600 units, worth around Rs 400 crore, in its new housing project in Pune as housing demand began to recover. Shapoorji Pallonji Real Estate, which is part of Shapoorji Pallonji group, did not formally disclose the value of sales bookings. Venkatesh Gopalkrishna, CEO, Shapoorji Pallonji Real Estate, said: "The success of …

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