Shapoorji Pallonji Group secures major financing backing.

Shapoorji Pallonji Group secures major financing backing. The conglomerate is raising $2.7 billion through private credit, attracting global investors including BlackRock, Bank of America, and AllianceBernstein. The three-year financing includes a $1 billion US dollar tranche offering 14% yields and approximately $1.9 billion in rupee-denominated debt priced at 18.95%. The fundraising, arranged by Deutsche Bank, is backed by SP Group's 9.185% stake in Tata Sons and includes milestones tied to a potential Tata Sons IPO or stake monetization within 18 months. Proceeds will refinance existing high-cost borrowings, addressing refinancing pressure at the group. The transaction is expected to be priced by May 29 and completed by early June, marking SP Group's first-ever dollar tranche in private credit markets.