Shapoorji Pallonji Group nears $3.4 billion record private credit deal

Shapoorji Pallonji Group, an Indian conglomerate, is poised to finalize a $3.4 billion debt agreement, potentially India's largest private credit deal. Major investors like Ares Management and Cerberus Capital are participating, with Deutsche Bank arranging the zero-coupon rupee bond yielding 19.75%. This deal highlights the growth of India's private credit sector, fueled by infrastructure development under Prime Minister Modi.