Monday, October 19
Privately-held conglomerate Shapoorji Pallonji Group is aiming to sign a $3.4 billion debt deal as early as Wednesday evening, in what would be the country’s biggest ever private credit deal, according to people familiar with the matter. About a dozen large investors, including Ares Management Corp., Cerberus Capital Management LP, Davidson Kempner Capital Management, and Farallon Capital Management participated in the deal, the people said, who asked not to be identified discussing private matters. Deutsche Bank is also investing, and will act as the sole arranger and the trustee, they added. The deal is a landmark in India’s growing private credit industry, which is getting a boost as Prime Minister Narendra Modi’s infrastructure push increases funding demands for everything from s
