Shapoorji Pallonji Group Secures $3.4 Billion in Private Credit Deal

The Shapoorji Pallonji Group, an Indian construction and real estate company, has secured a $3.4 billion loan.

This is the largest private credit deal in India to date.

The money comes from about a dozen investors, including firms like Ares Management and Cerberus Capital.

The debt is in the form of zero-coupon rupee bonds and will mature in three years.

Deutsche Bank arranged the deal and also invested.

This financing is significant for India's growing private credit market, which is getting a boost from government infrastructure projects.