SP Group eyes dollar rupee debt for funding
India Shapoorji Pallonji Group plans to use a dollar rupee debt route to meet a looming payment obligation for its subsidiary Porteast Investment. The group seeks to extend a repayment deadline while leveraging foreign interest in its paper.
India's Shapoorji Pallonji Group is planning a 35 billion rupee ($365M) debt route to meet an upcoming subsidiary payment, people familiar with the matter said on Monday morning. The conglomerate seeks to extend a repayment deadline from September 30 to October 31. This follows a similar $650M fundraising strategy executed in July to manage heavy debt maturities.
