BlackRock to buy dollar bonds from Shapoorji Pallonji unit
BlackRock plans to invest up to 200 million dollars in dollar bonds from a Shapoorji Pallonji unit. The deal aims to help the Indian group refinance its debt.
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BLACKROCK INC plans to invest $100 million to $200 million in a dollar bond issued by a unit of India's Shapoorji Pallonji Group this month. The investment through an Asia-focused fund supports the broader $3 billion debt raising effort. BlackRock's participation signals investor confidence after CareEdge Ratings downgraded the unit's debt to B+ from BB- following repayment delays.
