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SP Group Bonds Offered at Premium

Deutsche Bank and investors are offering Shapoorji Pallonji Group bonds at a premium following plans to sell part of its Tata Sons stake. The move aims to help the debt-laden conglomerate address mounting financial obligations.

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A construction worker walks past a hoarding of Indian conglomerate Shapoorji Pallonji Group on the outskirts of Mumbai, India April 17, 2018. REUTERS/Francis Mascarenhas

Investors in India are trading rupee bonds of a Shapoorji Pallonji Group firm at a premium, driven by plans to sell a stake in Tata Sons. The move offers liquidity relief to the infrastructure conglomerate holding 500 billion rupees in high-interest debt. The asset sale could ease severe redemption pressures facing the 160-year-old group.
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