Deutsche Bank largest investor in $2.7B bond for Shapoorji Pallonji
Business
Deutsche Bank has emerged as the largest investor in a $2.7 billion bond deal for Shapoorji Pallonji Group, aiming to pay off old debts and swap out expensive loans.
This move is a big relief for the group, helping them dodge any near-term default worries and giving their finances some breathing room.
Investors fund debt repayment and operations
Deutsche Bank put in the biggest chunk, $644 million, while Sageoak Capital and Cerberus chipped in with $196 million and $173 million, respectively.
There was also a major offshore portion through a Mauritius-based company, plus smaller contributions from Indian players like DSP Finance and IIFL.
Most of this cash will go toward clearing existing debt and keeping day-to-day operations running smoothly.