SP Group Faces ₹3,500 Crore September Debt Repayment Deadline

The SP Group has a large loan payment of about ₹3,500 crore due by the end of September.

The money was expected to come from a much larger refinancing completed in July.

However, some of that money was kept for other needs instead of being fully distributed to earlier bondholders.

It is not clear whether the group currently has enough money for the payment.

If it misses the deadline, lenders could consider that a default.

Paying the money could make the group’s loans safer for lenders.

Much of the group’s borrowing is backed by its shares in Tata Sons.

The group’s Tata Sons stake is therefore very important to its debt strategy.