Shapoorji Pallonji may pledge Tata Sons shares to raise $1.6 billion – EQ Mag
0
0
Shapoorji Pallonji is in talks with Ontario Municipal Employees Retirement System, Varde Partners, Cerberus and Farallon Capital Management for the fund raising exercise
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.
Source: PTI
