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    HomeNewsBusinessShapoorji Pallonji may pledge some Tata Sons shares to raise $1.6 billion

    Shapoorji Pallonji may pledge some Tata Sons shares to raise $1.6 billion

    Shapoorji Pallonji is in talks with Ontario Municipal Employees Retirement System, Varde Partners, Cerberus and Farallon Capital Management for the fund raising exercise

    Moneycontrol News
    May 16, 2023 / 09:39 IST
    Shapoorji Pallonji to raise $1.6 billion.

    Shapoorji Pallonji group plans to raise $1.6 billion through private credit facility, according to people familiar with the development.

    The engineering and infrastructure major may pledge some of its shares in Tata Sons to raise the capital, they said. Deutsche Bank and Standard Chartered Bank are organising the deal.

    Shapoorji Pallonji is in talks with Ontario Municipal Employees Retirement System, Varde Partners, Cerberus and Farallon Capital Management for the fund raising exercise.

    No remarks could be obtained from Shapoorji Pallonji, Deutsche Bank and Ontario Municipal. Part of the money will be used to refinance existing loans, the sources told news agency Bloomberg.

    Moneycontrol News
    first published: May 16, 2023 09:39 am

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