Record India Private Credit Deal Hinges on Tricky Collateral
By , Saikat Das, and Divya Patil
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On the surface, India's record-breaking private credit deal is a milestone for the market.
The real estate and construction conglomerate Shapoorji Pallonji Group has signed a $3.4 billion private financing, the largest ever in India. Investors are being rewarded with a 19.75% yield, an attractive loan-to-value ratio, and a rare opportunity to put a large amount of capital to work in one of the world's hottest markets.
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