Other Deals
Construction-focused Shapoorji Pallonji raises $1.5 B of planned $2.7 B fundraising
Mumbai-based Shapoorji Pallonji Group has raised commitments for approximately USD 1.5 Billion of its planned USD 2.7 Billion fundraising target, with the goal of finalising the transaction before the end of next month. Deutsche Bank is acting as the arranger for the deal. The capital raise involves a USD 950 million bond issuance through a company unit, alongside rupee-denominated debt raised by Goswami Infratech.The group is a construction and infrastructure conglomerate that maintains a significant equity stake in Tata Sons. The current fundraising effort is intended to refinance existing notes and manage debt obligations. The dollar bonds are structured as three-year instruments with a put/call option at the end of the first year and an expected initial yield ranging between 14.00% and 14.50%.
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