SP Group raises $3.3 B through bond issue

The Shapoorji Pallonji Group has closed a USD 3.34 billion (INR 28,500 crore), high-yielding debt issue, including against the group's 9.2% stake in Tata Sons. The three-year non-convertible bonds offered 19.75% annual yield paid at maturity. Deutsche Bank was the banker of the deal.