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The Economic Times
The Economic Times
Business
Shilpy Sinha

Shapoorji secures commitments for Rs 21,350 cr from investors including Mercury Finance, Deutsche Bank

Deutsche Bank Mercury Tata Sons Shapoorji Pallonji Group Karur Vysya Bank

Shapoorji Pallonji Group has secured investor commitments for its Rs 21,350 crore refinancing package with the, according to people familiar with the discussions.

The refinancing comprises a rupee-denominated non-convertible debenture (NCD) issuance priced at around 18.95% and a US dollar tranche expected to yield about 14.5%. The funds will be used towards refinancing existing debt backed by the group’s 18.37% stake in Tata Sons. Deutsche Bank was the sole arranger for the issue.

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