The Shapoorji Pallonji Group (SP Group) has secured a $3.3 billion refinancing deal, backed by its stake in Tata Sons, real estate assets, and oil and gas cash flows. The transaction, structured as a zero-coupon non-convertible debenture (NCD), has attracted interest from top global credit investors.
Shapoorji Pallonji GroupRefinancingTata SonsReal EstateOil And GasReal EstateMay 17, 2025
SP Group is raising $3.3 billion through the refinancing transaction.
The NCD has a tenure of three years.
Some of the global credit investors interested in this deal include Falloron, Cerberus, Ares Management, PIMCO, BlackRock, and Edelweiss Alternatives.
The estimated value of SP Group's 9.185 percent stake in Tata Sons is approximately $18.6 billion.
The expected yield of the NCD is 18.5–19 percent.
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