SP Group raised $3.4 billion via zero-coupon rupee bonds

Reportedly, Shapoorji Pallonji Group (SP Group) has signed a deal to raise $.3.4 billion through zero-coupon rupee bonds with a tenor of three years. The proceeds will be utilised to refinance the existing debt. The bond has a yield of 19.75 per cent. Further, bonds subscribers include Cerberus Capital Management, Farallon Capital Management, and several others.