SP Group plans ₹25,500 cr bond issue backed by Tata Sons stake
pre-market1 source ↓written by the desknot a recommendation
- bond issue
- ₹25,500 crore
- in Tata Sons
- 18.37% stake
- interest rate
- 18.95%
Shapoorji Pallonji (SP) Group will launch a ₹25,500 crore bond issue on Monday, leveraging its 18.37% stake in Tata Sons. The bonds, with an interest rate of 18.95%, will refinance existing debt and require either an IPO announcement or a settlement with Tata Sons within 18 months. This move is crucial for the group's financial strategy.
• Bonds are zero coupon, unlisted, and unrated NCDs
• Settlement expected next week
• Tata Sons shares pledged as collateral
Not investment advice. For informational purposes only.