Latest news with #AresManagementCorp
Time of India
3 days ago
- Business
- Time of India
Shapoorji Pallonji Group secures $3.4 billion in private credit deal
MUMBAI: Indian real estate and construction conglomerate Shapoorji Pallonji Group has completed a $3.4 billion financing in the country's biggest ever private credit deal, according to people familiar with the matter. About a dozen large investors - some using multiple funds - bought zero-coupon rupee bonds that offer a yield of 19.75%, the people said, asking not to be identified because the information is private. The debt matures in three years. Top investors include Ares Management Corp , Cerberus Capital Management , Davidson Kempner Capital Management and Farallon Capital Management, people said. Deutsche Bank acted as the sole arranger of the deal and also invested in it. Deutsche invested about $900 million and will down-sell a portion of the debt, the people said, adding that Cerberus and Davidson bought about $475 million and $425 million worth of bonds, respectively. Indian investors also participated in the deal, with ASK Wealth Advisors and some family offices buying a portion of the offering, the people said. EAAA India Alternatives Ltd., one of the country's largest domestic private credit funds, bought about $85 million of the bonds, said one of the people. The financing is a landmark in India's growing private credit industry, which is getting a boost as Prime Minister Narendra Modi's infrastructure push increases funding demands for everything from solar power to roads. A representative for Shapoorji didn't immediately respond to requests for comment outside of normal business hours. Davidson Kempner declined to comment. Ares, Cerberus, Farallon, EAAA and ASK did not immediately reply to Bloomberg's requests seeking comments.
Bloomberg
02-04-2025
- Business
- Bloomberg
Philippine Lender Esquire Financing Is Said to Weigh Stake Sale at $1 Billion Value
The owners of Esquire Financing Inc. are considering selling a stake in the Manila-based lender and could seek a valuation of as much as $1 billion for the company, according to people with knowledge of the matter. Esquire Financing's founder Rajan Uttamchandani and his family, as well as Ares Management Corp. -backed Crescent Point Capital, are working with an adviser on a potential sale of a significant minority holding, the people said.
Bloomberg
13-03-2025
- Business
- Bloomberg
Ares Seeks to Buy New World Development Debt From Banks
Ares Management Corp. approached at least two banks in recent weeks to purchase their holdings of debt issued by Hong Kong developer New World Development Co., according to people familiar with the matter. The US-based alternative investment manager was seeking to acquire a share of New World's debt at a discount in hopes of partaking in the company's ongoing refinancing exercise, said the people, who asked not to be identified discussing private matters.
Bloomberg
04-03-2025
- Business
- Bloomberg
Oaktree Gets Private Loan from Ares, Barings for Advisory Firm
Oaktree Capital Management LP has obtained an A$345 million ($214 million) private credit loan for Australian advisory firm AZ Next Generation Advisory, which it recently acquired, according to people familiar with the matter. Ares Management Corp and Barings equally funded an A$325 million term loan, while Macquarie Bank Ltd. provided an A$20 million revolving credit facility, the people said, who asked not to be identified discussing private matters. The proceeds of the five-year facility will refinance AZ NGA's existing debt and support its expansion plans, the people said.
